Well, it ain't over 'til the fat lady sings, but if the people I know are representative of the feeling in California today then I think Davis is out and Arnold the Governator is in.
There are a lot of pissed-off people here right now. They are sick to death of the kind of smear politics being practiced by the re-elect Davis newsletter, sometimes known as the LA Times.
The Gloria Alred 11th hour fiasco was just another demonstration of how extreme such people will go to retain power and to slime their biggest rival. Trotting out a woman with a 30 page long criminal record of prostitution and drugs, so she could accuse Schwarzenegger was pretty blatant. I guess Gloria and the accuser were rather surprised when within a couple of hours two people who were actually there come out and told the truth - Schwarzenegger wasn't even there.
Possibly the cancelled subscriptions to the LA Slimes will have an effect, but probably not. The kind of people who would run this kind of campaign care only for power and they "know" that they are "right."