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The Holy Father's Pastoral Letter to Ireland.
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"Penance, penance, penance!"  That is what the angel said in the last secret of Fatima as he waved the flaming sword of chastisement over the world - gratefully, the Virgin's hand restrained him.  Of course, that was the vision to the three seers, Lucia, Jacinta and Francisco in 1917.  Perhaps if the warning had been heeded when the secret was first read in 1960 we wouldn't have been facing the great crises in the Church we find ourselves in today...
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Towards the conclusion of the Holy Father's pastoral letter, the Pope offers some 'concrete initiatives' to effect reconciliation within the Irish Church.  In effect he is suggesting, or calling the the Irish Church to penance and reparation as well as recommending a sort of new catechesis through visitations and a mission:
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At the conclusion of my meeting with the Irish bishops, I asked that Lent this year be set aside as a time to pray for an outpouring of God’s mercy and the Holy Spirit’s gifts of holiness and strength upon the Church in your country. I now invite all of you to devote your Friday penances, for a period of one year, between now and Easter 2011, to this intention. I ask you to offer up your fasting, your prayer, your reading of Scripture and your works of mercy in order to obtain the grace of healing and renewal for the Church in Ireland. I encourage you to discover anew the sacrament of Reconciliation and to avail yourselves more frequently of the transforming power of its grace.
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Particular attention should also be given to Eucharistic adoration, and in every diocese there should be churches or chapels specifically devoted to this purpose...  Through intense prayer before the real presence of the Lord, you can make reparation for the sins of abuse that have done so much harm...
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Furthermore, having consulted and prayed about the matter, I intend to hold an Apostolic Visitation of certain dioceses in Ireland, as well as seminaries and religious congregations.
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I also propose that a nationwide Mission be held for all bishops, priests and religious. It is my hope that, by drawing on the expertise of experienced preachers and retreat-givers from Ireland and from elsewhere, and by exploring anew the conciliar documents, the liturgical rites of ordination and profession, and recent pontifical teaching, you will come to a more profound appreciation of your respective vocations, so as to rediscover the roots of your faith in Jesus Christ and to drink deeply from the springs of living water that he offers you through his Church. - 14. I now wish to propose to you some concrete initiatives to address the situation.
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Betrayed the trust...
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I read the entire letter, though I haven't studied it.  My first impression, in light of the recent news of sexual abuse emerging from the rest of Europe, particularly Germany, the letter left me feeling rather heavy hearted, though the Holy Father ought to be praised for addressing the problem so publicly, frankly and with such devotion.  For me, the Holy Father's sorrow is palpable.  I don't know a lot about Church documents, but I dare say I've never read anything by a Pope quite so forceful since reading a snippet of Pius V's condemnation of homosexuality amongst the clergy in his day.  Pope Benedict XVI admits:
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4. In recent decades, however, the Church in your country has had to confront new and serious challenges to the faith arising from the rapid transformation and secularization of Irish society. Fast-paced social change has occurred, often adversely affecting people’s traditional adherence to Catholic teaching and values. All too often, the sacramental and devotional practices that sustain faith and enable it to grow, such as frequent confession, daily prayer and annual retreats, were neglected. Significant too was the tendency during this period, also on the part of priests and religious, to adopt ways of thinking and assessing secular realities without sufficient reference to the Gospel. The programme of renewal proposed by the Second Vatican Council was sometimes misinterpreted and indeed, in the light of the profound social changes that were taking place, it was far from easy to know how best to implement it. In particular, there was a well-intentioned but misguided tendency to avoid penal approaches to canonically irregular situations.
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Only by examining carefully the many elements that gave rise to the present crisis can a clear-sighted diagnosis of its causes be undertaken and effective remedies be found. Certainly, among the contributing factors we can include: inadequate procedures for determining the suitability of candidates for the priesthood and the religious life; insufficient human, moral, intellectual and spiritual formation in seminaries and novitiates; a tendency in society to favour the clergy and other authority figures; and a misplaced concern for the reputation of the Church and the avoidance of scandal, resulting in failure to apply existing canonical penalties and to safeguard the dignity of every person. - You must answer for it before God

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My thoughts:
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For me personally, my initial feelings after reading the letter is that the situation(s) that necessitated it have left me feeling so entirely let down and scandalized by Catholic churchmen, it is difficult not to feel somewhat despondent.  I never would have thought that the Church could be left so ruined and utterly desolated by those who purport to serve her, the image which comes to mind is a smouldering wick on the world's stage.  Nevertheless, with the psalmist I pray; "I would rather lie abject upon the threshold of the House of God than dwell in the tents of the wicked." [Ps. 83]  And, "If I forget you Jerusalem, may my right hand wither.  Let my tongue cleave to my palate if I remember you not, if I prize not Jerusalem above all my joys..." [Ps. 138] 
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That said - I think the letter is too late.  It will have its effect, but the damage is devastating.
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"Come, all you who pass by the way, look and see whether there is any suffering like my suffering..." - [Lamentations 1:12]
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I found quite a good evaluation of the Holy Father's letter on Aprehendite disciplinam blog.