A level 7 but if you read the post on the IAEA website, this is the key: "10% of Chernobyl". At the end of the day the media will play the circus with this one that's for sure.
The extract from IAEA:
The re-evaluation of the Fukushima Daiichi provisional INES rating resulted from an estimate of the total amount of radioactivity released to the environment from the nuclear plant. NISA estimates that the amount of radioactive material released to the atmosphere is approximately 10 percent of the 1986 Chernobyl accident, which is the only other nuclear accident to have been rated a Level 7 event.
http://www.iaea.org/newscenter/news/tsunamiupdate01.html
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