Thailand has tolerated much in the past 5 years. There was the 2004 tsunami, the 2006 takeover that deposed Prime Minister Thaksin Shinawatra, the 2008 revolt that shut down Suvarnabhumi International Airport and forced Thaksin's brother-in-law to step down, and the Santika Nightclub fire on New Years Eve.
Tourism suffered in 2008 and, with the present-day monetary condition of posture, it looks like 2009 and 2010 will also be hard on Bangkok, Pattaya and Phuket.
The new Prime Minister, Abhisit Vejjajiva, has his work cut out for him. His English training will do little to get Thailand back on track.
Prime Minister Abhisit will have to prove to the world of west that Thailand is once again a friendly place for tourists. At the same time, he will have to work diligently to create jobs in Thailand.
A shortage of Thailand tourists will have a grave impact on Thailand, not only in the resort and entertainment industries, but also in all of the smaller markets that rely on excursionists to travel to and that Thailand is still the Land of Smiles.
Personally, I feel that Thailand is still a great area to visit. The locals are the nicest, the cuisine is heavenly and inexpensive, and shopping cannot be beat.
Don't let the legislative disputes deter you from visiting Thailand. Delight in the weather, the people, and the food.