You might not realize it, but the Saudis and most other Arab states despise the Palestinians for the vermin that they are. They only use them as a club to beat Israel with. No one is setting about to wipe out the Palestinians, but most Arabs would breathe a huge sigh of relief if it happened.
The Arab street is different from the House of Saud.
The events in Egypt should convince you that the Arab Street has a soft spot for Palestinians. Mubarak did not, the House of Saud may not.