Well, Kosovo is of interest because of the attempted Serb genocide there in 1999. Both US and EU are heavily involved there, and interested in having a peaceful ultimate resolution of the conflict. However, one thing is clear: Serbs all but forfeit their claim to that province once they attempted to ethnically cleanse its population. It was all but inevitable that Kosovo would become independent sooner or later, and I suppose 9 years of undefined limbo status was enough. Maybe at some point these two states will reunify, more likely they will both become members of the EU, but forcing Kosovo Albanians to live under Serb sovereignty was just not in the cards, and everyone concerned knew it. The Serb minority in Kosovo is obviously an issue, but that's what the EU/NATO force there is for. The Serbs, for their part, would not tolerate a NATO force on their own sovereign territory to ensure Kosovars' security, which made the return of Kosovo to Serbia an untenable proposition.

Russians will learn to live with it. Serbs will too, particularly since the EU is in a position to sweeten the deal (and, in fact, I view the Serb "outrage" as little more than an attempt to extract economic aid out of the EU). We are nowhere near a 1914-type scenario. Russians did not go to (nuclear) war over Kosovo in 1999, and they will not do so now. Their main concern is not "pan-Slavic ties" or some other such nonsense but the simple fact they fear Kosvo independence may set a precedent to be applied at a later date to Chechnya, in fact this is sometimes referred to in Russian media as the "Kosovo scenario" in discussions of Chechnya.