We'll see what happens, but it seems reasonable to assume the character of major Sun technologies like Java and MySQL will change. How exactly is hard to say, although I suspect in Java's case, Oracle is even less inclined to support standardization and open source than Sun was. MySQL is harder to predict, but some change seems inescapable.
I expect Oracle to exert relatively little influence on MySQL's ongoing development, because several core MySQL developers left Sun prior to the merger and have the community support, skills, and funding to seriously threaten a fork. I also don't expect Oracle to make much money on (new) MySQL support contracts, due to a combination of lack of trust and expertise that has (or will) leave the building. Hopefully PostgreSQL will see an uptick in usage as well.
Then again I'm still wondering why the heck Oracle made the acquisition. What are they gaining? It seems to me that the best technology that is supposedly owned by Sun is also not entirely their property. Add to that the inevitable brain drain (no doubt increased by the uncertainty of this deal and the time it took to happen in the first place)...
The funny thing is, the only piece of Sun software that I'm worrying about losing is VirtualBox. But, even that is (at least partially) open source, so I'm not too concerned.
All that being said, those old pizza boxes were pretty badass machines in their day. I still have a couple.