"Is the earth, with respect to temperature (regardless of cause) in a stable or unstable equilibrium? "
This is my understanding: an increase or decrease of greenhouse gases changes the point at which equilibrium is reached. Thus if we increase greenhouse gases to a particular point, the Earth's temperature will be unstable for a period, but then eventually reach a new stable point - stable but warmer than it is now.
Predicting exactly what that new stable point would be, however is tricky. Also predicting to what extent feedback loops apply is also tricky. That is why projected temperature increases fall within a range. Some models predict an increase of only a couple of degrees over the next century, while other models predict more extreme changes.
philcore you say that the models do not take clouds into consideration. Where did you get this idea from. A quick google shows this claim to be false.
For example take this article, 'Cloud Climatology'
http://isccp.giss.nasa.gov/role.html
Here is a sample of what is written in the article:
"In order to predict the climate several decades into the future, we need to understand many aspects of the climate system, one being the role of clouds in determining the climate's sensitivity to change. Clouds affect the climate but changes in the climate, in turn, affect the clouds. This relationship creates a complicated system of climate feedbacks , in which clouds modulate Earth's radiation and water balances."
"[...] A major effort is under way at the NASA Goddard Institute for Space Studies (GISS) under the direction of Dr. William B. Rossow , to gather better information about clouds and their radiative effects. Since 1983 the International Satellite Cloud Climatology Project (ISCCP) , as part of the World Climate Research Program (WCRP) , has been collecting observations from weather satellites to assemble a global, multi-year dataset. GISS serves as the Global Processing Center for ISCCP, in cooperation with institutions in several other countries. The datasets provide some of the key variables that determine the interaction of clouds and radiation."