It is most certainly NOT over. Gaza is still controlled by Hamas, which dedicates its entire existence to destroying Israel. Also a large majority of the citizens within the West Bank are fed up with the PNA but do not have accesses to weapons and as such are unable to do anything. If they do get accesses to weapons it could end up with another Intifada. If any of you remember the second or first you will know that a third Intifada is not something to sneeze at. After the failed attempt at a two state solution with the PNA they would probably want nothing short of the complete and utter destruction of Israel and one side will likely have to surrender everything.
But anyways, situations like those in Palestine are a result of self-determination. The Palestinians do not want their land controlled by someone else while the Israelis feel that the land is theirs and it is their right to control it. Bloodshed is the only way out, in fact, Bloodshed is a way of life for mankind itself. Us or them, right and wrong, live or die. Humanity has nothing to fear but the horrors it itself creates.