I would most likely do what the PBO, Treasury and Rice Warner suggest people will do and ALL account for in their costings. Move to an industry/retail fund and/or re balance investment mix while ensuring a level of diversification etc etc etc.
But I'm sure that the PBO, Treasury and Rice Warner know that not everyone can do that because many SMSF's are far more complicated and illiquid that the average Joe Bloggs with a piddly (compared to some) 600k in a SMSF.