After a nearly decade-long courtship, William and Kate are finally tying the knot. But now that the question of whether or when they'll marry has been settled, speculation can turn to what the future holds for them.

By most accounts, the pair hold the fate of Europe's biggest and most expensive monarchy on their shoulders.

What was once a sprawling empire, comprising 32 countries at the 1953 coronation of Queen Elizabeth II, now stands at just 16. And, apart from Canada, Australia and new Zealand, the Commonwealth nations are mostly small islands in the Caribbean and South Pacific.

As Tom Freda of the Citizens for a Canadian Republic is keen to point out, the royal family is likely to continue its decline.

"The institution has lost its lustre," Freda told CTV News. "And if ever there was any relevance, it's fading very, very quickly."

To the newlyweds' credit, not to mention a long-standing détente with the paparazzi, Prince William and his beloved Kate have largely managed to avoid grabbing any unfortunate headlines.

And as royal consultant Jenni Bond told CTV News, emphasizing the importance of maintaining that record, "The House of Windsor cannot afford another broken marriage."

Unlike William's parents, who famously met just 13 times before they tied their ill-fated marital knot in 1981, the 28-year-old prince and his wife have cemented their relationship through an eight-year courtship marked by breakups, reconciliations and even cohabitation.

So, what's next for the couple?

Thanks to Prince William's burgeoning career as a Royal Air Force search-and-rescue helicopter pilot, to which he'll return following a two-week honeymoon break, he's got somewhere he needs to be.

As a result, the couple plans to spend most of their time in a rented cottage on the Island of Anglesey in North Wales, close to the RAF Valley base where William is stationed.

According to published reports, the couple have vowed to eschew the typical servants and butlers in favour of doing their own shopping, cooking and cleaning.

While that may have once been unthinkable, it seems well within the bounds of possibility for a couple that could one day, barring death, divorce or revolution, ascend to the throne.

Yet, even though Kate may be destined for the role of Queen one day, until then her official role is ill-defined.

Few would be surprised to find Kate spend the next months or years relishing the relative solitude of North Wales, but the intense global interest in her words, deeds and sartorial choices will make it hard for her to hide.

"Remember she's the first future queen to have a university degree," royal historian Hugo Vickers pointed out in an interview with CTV News. "She knows what she's doing and has a good head on her shoulders."

Indeed, she has worked on-and-off since her graduation in 2005, for the clothing company Jigsaw as well as her family's lucrative party supply business.

But she's never vigorously pursued an independent career.

The couple's interest in charity -- highlighted in their decision to invite donations in lieu of wedding gifts -- suggests Kate could use her image and profile to support such organizations.

Whatever her decision, Princess Diana's former secretary Patrick Jephson told CTV News that she and William will have to make it in the face of enormous public pressure.

"There are not many chances left for the Windsors, the brand is in trouble and William and Kate are the re-launch," Jephson said.

And, as royal biographer Christopher Wilson suggested when asked what the public most expects of the newlyweds, what better way to reinvigorate a brand than with a next-generation product?

"They want to show they're a team and doing the royal business, but behind the scenes they have to do another royal business: making babies," Wilson told CTV News.

Harking back to William's own arrival just 11 months after his mother married Prince Charles, there is an intense interest in the birth of another heir to the throne.

"On the wedding day they'll be looking at her dress. On the 30th, they'll be looking at her waistline," Wilson said, explaining that the public will now be on the lookout for a baby bump.

"This is the job at hand, isn't it?" Wilson joked. "Kate and William have now got to do an heir and a spare in no time at all."

Interestingly, if William and Kate follow the same timing as Charles and Diana, their child could be conceived in Canada.

"You've got William and Kate heading your way," Wilson said, noting the couple plans to visit Canada for a royal tour in early July.

"And in 11 months time, you could have a Canadian baby!"