The Governor's actions could probably be charged as a felony due to the crossing of state lines to engage in prostitution. A felony probably bars him from office, even if he didn't decide to resign.
Those who know the reputation of Mr. Spitzer know that, in his high profile career as a prosecutor, he would go right for the throat of anyone else that might be caught in similar circumstances. Its not a perfect fit, but this so reminds me of the parable of the man with the huge debt he couldn't pay, but ready to choke the man who owed him a much smaller sum of money.
There are many lessons here. One of those lessons is that a healthy dose of humility and mercy is appropriate for all of us. It is proper to react with shock, anger, and eventually justice. Beyond that, Mr. Spitzer (in my opinion) is about to experience first hand the ultra harsh, almost gleeful punishment he has made a career of inflicting on others. Be careful lest you fall.