The question right now is not how the Israelis are going to greet this acceptance, but how the common man on a Palestinian main street will react to it. - this is the first and second very false premises.
First of all, the plan belongs to non-existent entities - Clinton and Barak - and thus is totally irrelevant.
Secondly, Arafat himself is irrelevant, so his acceptance or unacceptance of anything has no significance at all.
As to the "Palestinian main street", the Palestinian leadership, either the current or any imaginable future, will continue to feed it with bl**-jobs as usual, not to listen to its opinion.