Well, what SCO has is a lot of evidence that chunks of code are the same in SCO Unix and Linux.
That's only one small bit of what they need to prove, though. First off, they need to prove that it's SCO code in Linux, not Linux code in SCO. Next, they need to prove that they didn't put it there, themselves.
Some pundits believe this to be a very good chance. Then, after all of THAT, they have to prove that THEY (not Novell) own SCO Unix.
And, finally, once they do all of that, they need to prove that these actions actually DID tangible damage to SCO Unix, and try to figure out some way to collect on those.
Personally, I'd bet AmigaOS4 will ship before SCOs case gets anywhere. :-D
What's yet to be seen is how all the FUD-flinging will affect the US Linux adoption rate...