How likely is this uprising to produce a form of government (and foreign policy) that the US or Israel can be accepting of? Not sure how "free and fair" the last elections were there, but it produced a Hamas victory. Extending that concern, how likely is ANY of the Current Unpleasantness in the ME to produce outcomes favorable to the West?
That depends on what you view as favourable - in terms of producing societies that eschew Saudi religious radicalism, recent events are very likely to do that.
In terms of producing regimes that accept Israel's right to deport Palestinians, cooperate with any and all US programs in the region, and that support the US against Iran and Syria - zero chance of that.
Of course US support is now obviously being extended to Mubarak, a man who has tortured and murdered thousands of his own people, while plundering the nation's resources.
Yet when he's replaced by the new regime, we'll all stand around going "Why do they hate us!? I know, it must be our freedom!", as if material and direct support for a ruthless dictator wouldn't be relevant to how they view us.
The current strategy of propping up dictators in Egypt, Jordan, and Saudi Arabia will only have the long term effect of guaranteeing new regimes that are more radically anti-American than Iran. And propaganda aside, we'll have precious little to offer in the way of rebuttals to their claims about how the US aided and abetted torture and repression in their respective countries.