What I see happening is that China will try to mess with Taiwan, then we will have to step in (since we promised to help Taiwan if China attacked) then WW3 will kick off.
I doubt that war will happen. If you were to poll the Taiwanese, many of them are in favor of eventual reunification with China, with a relationship along the lines of Hong Kong (however, everyone's waiting to see what will come of this "democratic" one country, two systems mandate).
In addition, few Taiwanese are counting on US intervention, which is why the country has resorted to doing the next best thing: buying weapons from the US.
The Kuomintang (KMT) had a huge frickin' landslide victory over the DPP last weekend... this may force President Chen (DPP) to rethink his independent, ultranationalist Taiwan platform.
Manufacturing and tech jobs are moving to the mainland (when's the last time you saw something that was Made in Taiwan?), where production is cheaper... even some Taiwan-based chip companies have jumped the strait.
I'm almost certain this "conflict" will be resolved without US intervention.