ESPN has updated to the story. Rather than repost the whole thing, I'll just post the new bits:
"Consistent with the panel's decision, commissioner Goodell will, as directed, make an expedited determination of the discipline imposed for violating the league's pay-for-performance/bounty rule. Until that determination is made, the four players are reinstated and eligible to play starting this weekend," the NFL said in a statement.
The panel's decision affects the players only, not suspended coaches Gregg Williams, Sean Payton and Joe Vitt.
Smith also tweeted: "Thank you to everyone involved in the process of this solution.. And everyone who supported us through this whole ordeal. #whodat."
"Great news and exciting to hear," Saints linebacker Scott Shanle told ESPN's Ed Werder. "It's been a long process that didn't involve a lot of facts. These guys have stood strong and stood by what was right. Glad it paid off with this ruling."