Eduardo Zorita has an interesting post at Klimazweibel containing a very counter-intuitive analysis on the impact of melting of Arctic ice caps on northern hemisphere sea level.
Drawing on Mitrovica et al, Nature 409, 1026 (2001), he observes that ice caps have a gravitational influence on sea level. Should the Greenland ice cap melt, this effect would apparently largely offset volume increase in the NH – the impact would be felt on SH sea levels.
Conversely, NH sea levels would be most affected by Antarctic ice cap loss.
I haven’t made any attempt to examine the data – merely noting an interesting post.