Well, on the one hand (I'm a US citizen):
The United States had constantly been telling Georgia not to do anything stupid in regards to provoking Russia. GEorge didn't listen. It's kind of like a "I-told-you-so" moment. However, Georgia is our (The U.S.'s) ally, no? Addtionally, from what I've heard on the news, Georgia was goaded into this by the Russians, so perhaps the Russians, not the Georgians, are at fault. Finally, the Georgians want to hold on to their territory.
Now, consider the Russians' side for a moment: They were attacked to begin with/something provocative happened towards them by Georgia. They want these territories because they are sympathizers with Russia. They used massive retaliatory forces, by the problem is: did they push it too far? I could understand driving the Georgians out of South Ossetia and the other territory (forget its name). However, it seems like they want to conquer ALL of Georgia.
At last, we come to my stance. The Russians have used excessive force, in my opinion, but does that necessarily make them "wrong?" It is difficult to tell. Back in the old times (think Pre/slightly Post WWII era), countries used to invade and conquer other countries. If we apply that standard, the Russians are clearly doing the right thing! HOWEVER, when we consider that such attempts to conquer other countries who are allied with big powers have created massive, global, World Wars at times, I think that the Russians overextended themselves. But are the Georgians in the "right?" Clearly, they have a right to defend their territories, yet at the same time they did something in response to a Russian provocation, and everyone had warned them AGAINST doing such things. This leads me to believe that, for the sake of not starting a potential WWIII, I should side with Georgia. However, neither side seems to be completely in the right and completely in the wrong. I think, because of the excessive use of force that I percieve, the Russians are in the wrong; hence, I will side with Georgia.
My opinion is, of course, open for debate. THis is a limited understanding of the situation, having watched US news (particularly CNN), so I am not sure of all of the facts. But I hope that others can further elucidate the situation for me.