I believe the NCAA will drag their feet as always, but that Newton will eventually be declared ineligible. However, for now, he has not been declared ineligible, and Auburn has every right to continue playing him.
Auburn is counting on the fact that even if the wins are vacated and everything is taken away, it is like retracting a front page headline with a back page one line apology. After all... the violation is technically with Newton's Dad, not with Newton or with Auburn. The request for money was made to Mississippi State, not Auburn. Newton will be declared ineligible, not Auburn. They will claim they are innocent in the deal, and probably get away with it. Somehow I have a hard time believing that one of the dirtiest programs in NCAA history is somehow pure as the driven snow in this.
If Alabama or South Carolina beats Auburn and knocks them out of the BCS, and if Newton does not win the Heisman, this will eventually work itself out. If Auburn wins the BCS and Newton wins the Heisman and both have to be vacated, the scandal should rock the college football world and rightly so. Hopefully it will lead to some productive changes that will benefit everyone.