Austin Bay notes that we are about to see a revolution in the Middle East: There will be a vote for a Palestinian president on January 9th, and, of course, the elections in Iraq. You will have noticed, I am sure, that some fundamental issues are moving toward resolution in both Iraq and Palestine. In both cases we are on the verge of replacing guns with ballots, and the political moderation necessary for the revolution. Is there a guarantee that all be well? Of course not. Yet, it is logically necessary to be optimistic. Bay outlines what’s going on. 
I think it’s going to be pretty clear after the elections just who is for peace(and prosperity)in the region.
Also, it’s going to be pretty difficult to call what the Palestinians are doing an "election".