This question is premature. Focusing on one incident is not an accurate means of analyzing the Army's current offensive. The lack of 'boots on the ground' is apparent, but constrained by our belligerent neighbor in the East there isn't much we can do about it. Capacity building in the FC and its expansion will take time.
This isn't the first incident so I don't think it's premature.
Anyway, have you thought about what impact it would have to take 20% of the army and redeploy? Wouldn't the threat of nuclear weapons hold India at bay even with that level of reduction? Even if it didn't, how long would it take to abandon the fight in Swat and return to the border if things got more hostile? Would fighting at reduced strength for a few days make a significant difference in the long run?
The importance of a parallel political process cannot be understated either. On that count there are 'reports' that the Swat Shariah bill will be signed off on by the Presidency, and the possible support for it by Sufi Mohammed could undermine Mullah FM and his movement.
Using the army to defeat the Taliban would provide incredible political capital in other areas, so clearly that cuts both ways. Also, making political concessions to undermine a radio station isn't very efficient when it's so easy to shut one down militarily. (The lack of action on that front is another point against the army, by the way.)