Russia does one hell of job of holding us in check considering their GDP is less than some states.
Sure, but you have to consider price differences and such things. You get more for less in Russia. Take their military as an example, you may just look at their annual spending and compare this with China or the US, or you might even look at China and compare it with the US. This is impossible. Sure, gold will cost about the same in all 3 countries, and differences between some materials might not amount to much, but in general China and Russia get alot more per "dollar" than the US.
The Russian military is by far the most powerful in Europe, and probably the same goes for Asia. Despite it's low spending, it's somewhat comparable to the US. They get alot of bang for the bucks and they have technology second to none for some things. China is a bit behind on technology, and I think a bit behind Russia and the US in general, but their improvements are exponential, and they also get alot more than the US for their bucks. I think China will propel by Russia and US in the future, and become a clearly superior military force, even if it spends less money than the US.
Allthemore important it is not to vilify Russia, because we need Russia, and they need us. We don't need to split the world in west vs Russia/China, but now we are forcing Russia into this position. Russia is more than willing to also have good relations with us, and to cooperate with us, but they will always choose the best solutions, independently, and sometimes they might side with us, other times with China. But now they are forced to always side with China.
This is not very clever. Russia is not a threat to anyone. They just want their interests to be respected, and they want to defend themselves. This is what they are doing and have been doing, and this includes Crimea.
I'm no expert on Russia, but from what I know, their GDP is a bit underestimated, due to their economy not being a finance based economy and their GDP not being blown up by overbloated stock markets and financial products etc. Let's just say their stock market is completely undervalued compared to a comparable economy like Germany where the stock market is completely overvalued.