I've been following the debate at Ruth Gledhill's blog, which the good folks at traditional Anglican site StandFirminFaith have also been following.
There are a few likely things to come of this.
1. Ecumenical talks between the Anglican Communion and either Rome or the Orthodox churches are dead. Rome has ruled, definitively, that there can be no women's ordination, much less consecration as a bishop. The reasons for it are laid out in Pope John Paul II's Apostolic Letter from 1994, Ordinatio Sacerdotalis. John Paul II foreclosed discussion of the issue by Rome with his closing paragraphs:
Although the teaching that priestly ordination is to be reserved to men alone has been preserved by the constant and universal Tradition of the Church and firmly taught by the Magisterium in its more recent documents, at the present time in some places it is nonetheless considered still open to debate, or the Church's judgment that women are not to be admitted to ordination is considered to have a merely disciplinary force.Wherefore, in order that all doubt may be removed regarding a matter of great importance, a matter which pertains to the Church's divine constitution itself, in virtue of my ministry of confirming the brethren (cf. Lk 22:32) I declare that the Church has no authority whatsoever to confer priestly ordination on women and that this judgment is to be definitively held by all the Church's faithful.
Invoking an abundance of divine assistance upon you, venerable brothers, and upon all the faithful, I impart my apostolic blessing.
After the usual "questioning" and "requests for clarification" from various liberal theologians, who tried to find some wiggle room in the letter, the Vatican issued a further clarification from then Cardinal Joseph Ratzinger, head of the Congregation of the Doctrine of the Faith:
The publication in May 1994 of the apostolic letter Ordinatio Sacerdotalis was followed by a number of problematic and negative statements by certain theologians, organizations of priests and religious, as well as some associations of lay people. These reactions attempted to cast doubt on the definitive character of the letter's teaching on the inadmissibility of women to the ministerial priesthood and also questioned whether this teaching belonged to the deposit of the faith.This congregation therefore has judged it necessary to dispel the doubts and reservations that have arisen by issuing a responsum ad dubium, which the Holy Father has approved and ordered to be published (cf. enclosure).
The responsum ad dubium states:
Dubium: Whether the teaching that the Church has no authority whatsoever to confer priestly ordination on women, which is presented in the Apostolic Letter Ordinatio Sacerdotalis to be held definitively, is to be understood as belonging to the deposit of faith.Responsum: In the affirmative.
This teaching requires definitive assent, since, founded on the written Word of God, and from the beginning constantly preserved and applied in the Tradition of the Church, it has been set forth infallibly by the ordinary and universal Magisterium (cf. Second Vatican Council, Dogmatic Constitution on the Church Lumen Gentium 25, 2). Thus, in the present circumstances, the Roman Pontiff, exercising his proper office of confirming the brethren (cf. Lk 22:32), has handed on this same teaching by a formal declaration, explicitly stating what is to be held always, everywhere, and by all, as belonging to the deposit of the faith.
The Sovereign Pontiff John Paul II, at the Audience granted to the undersigned Cardinal Prefect, approved this Reply, adopted in the ordinary session of this Congregation, and ordered it to be published.
Women's ordination, started in some provinces in the Anglican communion in the 1970s (in the Episcopal church of the U.S., for instance), became permitted in the CofE in the 1990s. This has put a chill in ecumenical talks between the Anglican Communion and Rome; the Anglican Communion, by introducing the innovation of women priests, moved away from what both Rome and the Orthodox churches have held for 2000 years.
2. The Global South Anglican churches of Nigeria, Uganda, etc., will probably declare themselves out of communion with the CofE.
3. A number of CofE bishops, priests, and lay people will defect to Rome, either singly or in groups.
4. As the CofE sees more conservatives depart, its theology, like the Episcopal church in the U.S., will become even more radicalized.
People who see this as an issue of "rights", though well-meaning, have it exactly wrong. There is no right to be a priest; priests are chosen by God. We do not know why the Twelve Apostles were all men; but in that there was no worldly power who exceeded Christ in authority, we cannot assume that he made the decision based on any kind of fear or cultural bias. We must assume He had his reasons.