As a volunteer with the Community Emergency Response Teams (CERT/SCERT) both at home and Stanford (work), there has been a lot of buzz about this. We are sworn FEMA first responders. We've kicked up preparations and have reinforced warnings about having extra food and water available at home and work. We've been preparing for years, conducting drills and holding community meetings about best practices and the things not to do in the event of an earthquake.
We can never be fully ready for a major event, but at least we can be ready to respond when the time comes.
At the time, all we can do is hold on for dear life and hope our loved ones and neighbors are not hurt. We can fix the stuff, but our lives cannot be replaced. This past week areas that have had no movement in years are now shifting. Two 3.0 # quakes on Mare Island have signal something is amis. Let's hope not.
The biggest danger in the SF bay area is the Hayward fault. It runs up the East side of the bay from San Jose to Richmond.
http://pubs.usgs.gov/fs/2008/3019/ It last shifted significantly in 1868 killing around 30 people. An event of the same magnitude (6.8/7.0) today would be devastating, making the Loma Prieta quake of '89 appear insignificant. It will also radiate further east to Livermore and Walnut Creek destroying utility infrastructure and property along with lives. It ain't going to be pretty.
http://earthquake.usgs.gov/regional/nca/1868virtualtour/bayarea.phpTrivia: The north end of this fault goes right through the middle of the UC Berkely campus and stadium.
It's not a matter of if, but when.