Pak army has resources to "conquer" and "clear" North waziristan within few months. But as pointed out by our mashar @
taimi khan, whole villages will be flattened with huge collateral damages, just like previous operations.
But if gul bahadur is able to inflict heavy casaulties on pak army,... then army might go for treaty, just like in the past when pak army signed treaty with baitullah mehsud after operation against him failed. Though this time army might not entertain it and proceed on despite of casaulties.
Any outcome is possible, military defeat of gul bahadur is certain but it is the consequences, aftermath which should be kept in mind.