While it might be amusing to watch people run around in panic over this, I wish they'd stop. They've been told for years that they should avoid MD5; I'm just surprised this discovery wasn't made sooner.
Also, I'm not sure on this point, but I don't think SHA-512 adds any security over SHA-1. It increases the size of the bitstream, which is useful for some applications, but finding collisions would take the same amount of time.
"There is no shame in being self-taught, only in not trying to learn in the first place." -- Atrus, Myst: The Book of D'ni.