As Walker explained Thursday, the defenders of Proposition 8 are not likely to prevail because they lack standing; also, it is impossible to see what "irreparable injury" will occur if there is not a stay of the injunction and same-sex couples are allowed to marry pending resolution of the appeal.
The result of all this is likely to be that gays and lesbians will be able to marry beginning Wednesday, when Walker's temporary stay expires. There then will be consideration of the case, over the next couple of years, by the 9th Circuit and ultimately by the Supreme Court.
But if those courts follow well-established law, they will need to dismiss the appeal on grounds that those who filed it have no standing. The outcome, then, will be that marriage equality will exist in California, at least unless and until in some other case, some day, the Supreme Court comes to a different conclusion.