Here is the San Francisco Chronicle report of their private meeting which, apparently, went well, and the few words they said after the meeting (I havent seen it on TV yet): "For his part, Bush said he was glad to have met Schwarzenegger, then joked about how much we have in common.
Both married well, said Bush, and some accuse both of us of not being able to speak the language. Bush also joked that he and Schwarzenegger also shared a third thing in common: big biceps. When the laughter subsided, Bush suggested that two out of three isnt bad." I told you it would be full of mirth.