1) Become a Technical Director on a small project for current-gen console technology. This would be an interesting game in itself with a very small team of people that you know and enjoy working with. The only real downside is that there's not a lot of technical challenge in it and it's working with essentially out-of-date technology so any skills gained are pretty useless going forward. Oh, and because its a smaller team with a shorter shipping schedule, it would likely mean some long hours next summer.
2) Become a Senior Engineer for the Next Big Game shipping on next-gen technology working on Terrain and/or AI (to me, these are really interesting fields and I would really enjoy either).
3) Quit and go find a job working on a game that you'd really love to work on. Neither of the above games are ones that I would really be passionate about (beyond the fact that I love programming games in general) and I KNOW that I could find a job doing a game I'd love...but this could very well mean moving out of state and it would also mean starting over at a new company, earning trust and proving myself all over again, etc. Ug.
*sigh* A couple of years ago, I would never have dreamed I'd have these choices. Life does seem to change at miraculous speed sometimes.
