The disappearance of the Arctic Cap will not affect sea levels because the frozen ice is already displacing the sea by the equal of its volume.
The real concern is with land based ice melting - eg glaciers. It is projected that if Greenland Glaciers were to melt completely (and they have already retreated significantly) then sea levels globally will rise 7 metres.
Changes in our climate will most likely be noticed from generation to generation - ie you are not likely to see significant impacts in the your own lifetime. However, this is not to suggest that the issue should be ignored. Regreattably, Australia's contribution to global warming is so small that even if we were nil contributors, we would still reap the consequences of others who are great contributors - the USA, Europe and the new entrant to the industrial world - China.
We are not a signatory to the Kyoto protocol on the grounds that the economy would be too greatly affected by the changes we would need to make. Yet, Kyoto's protocol is recognised as not requiring any near enough from its signatories to make the difference that needs to be made to address the issue.
The current catchphrase relates to adaptation. This is because our effects as a race on the climate of the world up to today as so great that even drastic overnight change will not achieve benefits for decades to come. Therefore, we need to adapt now but at the same time, address the contributing factors and do so at a global level.
devil's advocate - I appreciate your angle about scientists producing reports that are favourable to those who pay for them. However, you may be interested to read further information produced by the Bureau of Meteorolgy and the CSIRO - and even their material is not enough to sway their own political masters.
http://www.bom.gov.au/climate/change/ .
http://www.dar.csiro.au/information/climatechange.html .With religion, you are either a believer or not and debate rages about the 'second coming'. With climate change, the best evidence is recorded in retreating ice flows and packs, rising average temperatures and more extreme weather events. Hence, climate change is not coming in the future, it's here now.
Other info which may interest readers here:
http://www.marine.csiro.au/LeafletsFold ... el/45.html
http://www.dar.csiro.au/impacts/docs/SA_CMARreport2006.pdf (South Australian Report of 2006)