Re: Don't click the link !
If you just open the mail, you should be good if your client does not auto-execute code willy-nilly (meaning if you use Outlook you're likely screwed), but if you go and click the link, your machine is good for a reinstall.
Isn't that just a bit overdramatic?
Do you reinstall your OS every time you go to a link you've never visited before from the search engine of your choice? In either case, you're taking a leap of faith. There's always a first time visiting a site before you've established that it is reputable and really what it claims to be (and even then it could have been hacked to serve malware), and you have to hope that the site isn't compromised and your browser does not contain a zero-day that will allow a drive-by execution of arbitrary code (that happens to be meant for your OS, which is less likely for those of us using one that has 2% of the desktop market).