The Stars and Stripes notes that more is at stake than just DADT with regard to the 2011 Defense Authorization Act:

If the measure is held up by Senate Republicans [or Democrats -ed], it could stall the military’s annual pay raise (which would be either 1.4 percent or 1.9 percent in January) and a host of recruiting and enlistment bonuses. The 2011 NDAA also includes language extending Tricare coverage to dependent children of troops until age 26, increases hostile fire and imminent danger pay, and provides millions in impact aid to schools with a high enrollment of military children.

Despite the drama, this is not the first time the NDAA has been held up for one reason or another.  In those past cases, pay raises, etc, were simply made retroactive.

Importantly, open service by homosexuals is not the only moral issue in the bill.  As previously noted, the often overlooked Burris Amendment to the DAA would permit abortions in military facilities, where they are currently restricted:

A Senate provision to allow abortions at overseas military bases will almost certainly require another full debate in both chambers.