1. It depends on who "we" are. For almost everybody, it would be a non-event but for the hype in the media. Electronics would not be deep fried. Some damage would occur to satellites, but few would be permanently affected.

2. "Impact" would be from the sun. The magnetic effect can wrap around the earth to some extent.

3. Most "infrastructure" would require no shielding. The atmosphere does a good job, except for certain circumstances.

4. No hard drives would come close to being wiped by the CME, even it was directed at earth.

This CME was rated about 80 nanoTesla. The "Carrington Event" of 1859 was about 50 percent stronger. This CME is notable primarily because of its speed, not its size or destructive potential (except when used for selling newspapers).