After the king's ambiguous speech given, the question remains as to what the SPA's next move will be. Putting aside all the rumors, conspiracy theories and underpinnings, lets look at what we've got here.

1) Through 2 weeks of all out protests, curfews and the loss of innocent lives, the commendable nepali public has been able to do what the Maoist's People's War wasn't able to do in 10 years. This shows the power of the people in unison fighting for a cause that they believe in from their soul, a source so powerful and it needed no guns or ammunition to rattle the governing body. It is clear that the King has been RATTLED.
2) Lets use this to the advantage of the people in such a way that further lives don't have to be lost and people don't have to suffer from various types of depravity.
A) Use the King's half hearted proposal as a small window of opportunity to take control in forming and immediately reinstating a multiparty system, getting permission from the Supreme Court to restore parliament and allowing the Maoists to come forward to participate in a general election.
B) You cannot annihilate the King in one shot. What the last few weeks have done is solidified the fact that nothing can stop the will of the people of Nepal and what they believe in, when they unite. The King knows that if he tries to plot anything again, it will be the end of him. He will be executed. This was his way of saving his life and some of his status.

The SPA should strengthen its credibility and come forward with a roadmap for governing and start negotiating with the King to slowly head towards being an ABSOLUTE "Ceremonial Monarch" with no relevant power. The people have to understand that everything that they wish for, which is justifiable and well deserved, cannot happen overnight. All in all, the people have proven where the true power lies. That in itself is a victory and now we should work towards minimizing the loss of innocent lives.