I think it's despicable, what they've done, and add to that the fact that they could've potentially removed important evidence. And as far as I'm concerned, Rebekah Brooks is wholly responsible as she was the editor at the time (just as any manager assumes responsibility of the actions of their employees). I'm afraid I don't believe a word of it when she says she didn't know what was going on (either that or she was a stupidly dumb editor; either way, her position as CEO of News International is untenable).
If anyone's looking for a good place to get up-to-date info, petitions to sign etc, the Facebook group mentioned above is a good place to start - been in it a couple of hours myself and pleasantly surprised by the passion of the members :-)