But there is no reason for pessimism. At heart, both parties are motivated by pragmatism and a desire for power, rather than adherence to rigid ideological orthodoxies.

Having seen off challenges both from more moderate and from extreme elements in their respective communities, the DUP and Sinn F�in are in a stronger position to deliver a lasting peace deal.

Even if a fully functioning executive is impossible by the two governments' 26 March deadline, it must surely be only a matter of time before Ian Paisley and Martin McGuinness take the reins of power in Stormont.

The sooner that happens, the better for everyone in the North. Pressing issues affecting nationalists and unionists in equal measure - such as impending hefty rates and water bills, uncertainty over post-primary education, and shortcomings in the health service - need to be speedily addressed.

Sinn F�in and the DUP should just get on with it. Perhaps concrete actions from Sinn F�in on policing, rather than words, would be most convincing for everyone. It would be a significant move if the republican movement handed over the dossier of information it possesses on the murder of Robert McCartney to the Police Service of Northern Ireland.

On the DUP side, Paisley must show nationalists he is a different man from the one who helped bring down the Sunningdale powersharing executive. It must be hard for a leader who said "Never! Never! Never!" to reach out magnanimously to the nationalist community, but Paisley must find the personal and political courage to break the habit of a lifetime.

Sinn F�in and the DUP sharing power in Stormont might not be the rocky ride many people fear. At a grassroots level, on social and economic issues, there is much that unites them. Aside from the constitutional question, there are few major ideological divisions in the North.

The poor vote for independent republican candidates shows that the nationalist community wants to move on. Traditional republican rhetoric holds little appeal today in the North.

While there is still a long way to go, there is greater social and economic equality for Catholics than ever before. Progress has been made since the old days of the Orange state.

If republican dissidents do not wise-up, they will continue to fill the jails, and possibly cause loss of human life, in a campaign that only the tiniest minority of people supports.

But the pressure should not just be on republican dissidents. In the second year after IRA decommissioning, mainstream loyalist paramilitaries remain armed to the teeth and, disgracefully, there is no political pressure on them to change that.

While sectarian violence has thankfully waned, there remains a real possibility that during the marching season, or at some other tense period, these weapons could be used to kill nationalists.

Loyalist paramilitaries, and their representatives must not just talk the language of peace, they must deliver their armaments.

While the elections saw a solidification of the two giants of unionism and nationalism, Sinn F�in and the DUP, the success of several other candidates showed some hope for tolerance and diversity.

The victory of Chinese woman Anna Lo for Alliance in South Belfast sends a powerful message that the attacks against ethnic minorities in the North are wrong and that racism is not becoming the new sectarianism.