Fielding an ineligible player is something that usually happens once or twice a season in the Football League, but it doesn't appear to have happened to both sides in the same game before.
When Torquay admitted, the day after the Feb 1st match, that they had fielded Jake Robinson the Club Secretary resigned and a fine was expected. The general consensus, across the leagues, is that a club would lose any points earned. Torquay hadn't earned any points, so wouldn't lose any according to precedent.
The Bulls would expect to lose the points, under normal circumstances, and face a fine. Last season Hartlepool fielded a suspended player in a 2-0 win over Brighton, subsequently losing the three points and earning a £10,000 fine. The loss of points nearly relegated the monkey hangers, seeing them finish just three points clear of the bottom four, while Brighton boss Guy Poyet demanded his side be given the points after being disadvantaged by the move.
But there is a precedent of no points deduction. Accrington fielded loanee Chris McGrail as a sub when he wasn't eligible as he wasn't on a professional contract with parent club Preston. Stanley were fined £12,000 - half suspended - but not given a points deduction despite earning four from the two games he played in.
The Bulls will have an unprecedented defence of 'no harm done'. Both sides in the game fielded an ineligible player, so no-one had an unfair advantage. Torquay have no claim to be 'hard done by' like Brighton as they fell foul of the rules in the same way. It would seem odd justice that the Bulls were the only ones to lose points when both sides 'cheated' in similar ways.
Whatever decision the Football League make it will likely break new ground.