Basically, the court leaves the question of whether or not civil unions (or whatever New Jersey decides to call them) are equal to marriage for another day. They punted on the issue.

We will not presume that a separate statutory scheme, which uses a title other than marriage, contravenes equal protection principles, so long as the rights and benefits of civil marriage are made equally available to same-sex couples.
It is quite, quite clear that they are saying that the SC of NJ will not presume that a civil union scheme that has the same rights and benefits of marriage violates equal protection. They are saying a civil union with the same rights as marriage is fine under the state's equal protection clause.
In the words of someone better aquainted with the issue than myself...

The Volokh page also states:
(3) Rights-forcing decisions: Mandate the rights of marriage, but not the status, for gay couples. This was the route taken by the Vermont supreme court, and now by the New Jersey supreme court.
And I haven't seen Vermont's court getting a challenge where it said, yeah, we were wrong, you get gay marriage.
Also the Volokh article indicates that Volokh is pro gay marriage. Of course he'd try to put a positive spin on it for gay marriage in a subsequent decision. However, it is misplaced. It won't happen. You can bank on that. The only way it'll change is if the composition of the court does.
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