Bill is at Barriers II in Princeton and promises a full report upon his return.
Ask many computer scientists what happens if P = NP and you'll get the response that it will kill cryptography. Let's ignore solving all optimization problems, solving AI and learning everything, likely cures to many diseases and many more amazing advances in society, what a disaster it will be that we can't send secret messages to each other.
I don't at all believe P = NP but let's have this hypothetical discussion of what happens to cryptography in that world. We do lose public-key cryptography, the ability for two people who have never met to electronically still send encrypted messages to each other. How will I send my credit card info to Amazon if P = NP?
Amazon will send me a USB key containing a gigabyte worth of a one-time pad, enough to encrypt all my transactions for my entire life (even though I will live much much longer thanks to P=NP). This might work for Amazon but what about tiny mom and pop web stores? We just need a trusted site for a one-time pad registry so my USB key will work for any Internet transaction. Even for public-key cryptography today we need trusted parties to verify sites so we haven't lost much here.
For large financial institutions they can ship huge amounts of one-time pad data through secure couriers (or just ship data this way). Large amounts of compressed data can have a very small footprint these days.
What about cryptographic protocols? Zero-knowledge is uninteresting if P = NP. Many secure multi-party computations can be done with private channels which just need private keys. There are many others, electronic money, secure voting and digital signatures come to mind, that seem difficult to do if P = NP. On the other hand they are also hard to do in practice today even under the usual assumptions.
Certainly P=NP will make cryptography considerably more painful that it is now and many things we thought previously encrypted won't be anymore. But we'll figure out how to meet our crypto needs in any environment. The loss of public-key cryptography shouldn't be our first gut reaction to what happens if P = NP.