I think the 17 point penalty and the stripping of the two Scudetti are both fair for Juventus because, let's face it, they plain cheated. Don't be in denial and say they don't deserve it, or say it's not fair to have the second Scudetto taken away. When you win the Scudetto, you get cash boosts as a reward and from sponsors. This cash is used to update the team (Vieira, etc...), and it helps the team (minutely, but surely). It's very just in my own honest opinion.
However, the other three teams should deem themselves lucky for receiving such a break. They are just as guilty.