From the comments section:
...although it does bring up an interesting thought. We're seven weeks out from EVO, and for a good sized chunk of participants, the next 3-4 weeks will be unavailable for practicing. What, if anything, can be done? Will they decide to run on 1.02 and ban infinites? Will they sit back and hope 1.04 part 2 fixes things? What if THAT patch includes a glitch on par with this one?
and
It's going to be interesting to see how this plays out. The tournament I'm going to on Saturday (Mall Brawl in Roseville, MN) is running 1.02 because of this. I wonder what UFGT (next week) is going to do. I'm also interested to see what CEO does, as their tourney falls just after the patch window, leaving minimal time to work around something if another glitch is found.
EDIT: Checking Twitter, it looks like they're both figuring out what to do. UFGT looks like they may go with a game forfeit to the Rolento player if the glitch happens, while CEO looks like they would ban him if the fix isn't made in time. Keep in mind that Keits and Jebailey are just thinking out loud so it may change, but it's still interesting to see the pros and cons of handling this in different ways.
Looks like this is having an impact on the competitive scene. Ban a character if he isn't fixed in time? Oh man.
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http://www.youtube.com/watch?v=npHDxSvwCE0