I disagree. Busta-whatsisname would be far worse than Gray. If it comes to that (not very likely at all), I'd rather keep Davis, drop 5 and punt (wait for 96).
That's a heck of a long wait.
Personally, I think Schwarzenegger would end up being more dangerous because he would give that handful of weak-kneed Republican "moderates" cover to help the scumbag Democrats raise taxes when Arnold "very reluctantly agrees" to raise taxes, and says things like, "This budget deficit is far worse than we were ever led to believe," and, "The economy has not turned around as quickly as we expected," and "This will only be a temporary tax increase."
With Davis or Bustamante, the Republicans would stay united and rock solid against any Democrat tax hike, just like they did last summer.