Even before this recent big slide, CA 1 was already fully closed in 3 places between Big Sur and San Simeon (approximately), according to the CalTrans map. Clean-up/repair from a couple of previous slides and the bridge work already mentioned.
So... a fully-on-CA 1 trip was already not in the cards.
Nevertheless: In 2 weeks I plan to head that way anyway, even if I can't do the 'definitive' central coast drive. It's only 600 miles to Monterey from my house (yes, "only" ) so not a big investment in time and in my car not a big investment in fuel, either.
I don't have an itinerary yet (other than my first couple of nights at friends/family homes), but thanks to all for the input on what to do, where to go.