I get an impression that the abundance of news with Pakistanis gloating and Indians whining is part and parcel of the forum.
From a strategic perspective this deal is unlikely to change the status quo and is geared for helping Pakistan out in it's CT operations against groups threating both US and Pakistani interests.
One thing though is indeed strange and that is Indian displeasure at the deal, would they rather have Pakistan buying EFT or Chinese Flankers which are specifically designed air dominance and hence prominently aimed towards India? F-16s at-least ensure some form US monitoring of the end use while the other alternatives would have been free of strings. Put simply Indian behaviour even at the highest level seems out of sorts with reality.