I'd hire a good accountant, pay the taxes then take at least half of the money set up in a mix of investments and savings accounts to cover both long term savings and daily living expenses off the interest and dividends then, I'd pay off my student loans and bills, buy a nice house, spend at least a month or two traveling the world with my girl. I'd give maybe 100K each to a 4 or 5 people very close to me. Then with whatever is left I'd take a few hundred thousand and set up some type of charity organization and take maybe half a million or so as a poker
bankroll and become a professional poker player/philanthropist while nurturing a few hobbies and artistic projects. One big motivation in my taking poker more seriously these days is as a vehicle to donate some winnings to various charities, I think it's one way poker can create deeper meaning for players.
As I get older I have no delusions that I'd be instantly a "great" pro and thus I would not want to risk much on actual poker after a huge win like that and would probably have a pretty nitty BRM for it. Although I would def make a point to play in the WSOP events each summer and at least give a shot at maybe mid stakes cash games. Then again suppose I did grind up the proper roll to play the WSOP ME full buy in, I'd probably have been a better player if not already a pro player and would be more willing to shot a few larger events and maybe a stake or two higher of cash games I had been playing. But if I won the ME a la Moneymaker style from a satellite or something, i def wouldn't try to be playing super high rollers or high stakes cash games in Macau after the win.