That isn't likely to happen anytime soon because the poison did not die with Arafat. It is endemic to a region and a people that despise all things Jewish, Christian and Western. Various "leaders" throughout the Arab world have found the Jews, Christians and West useful diversions from the real problems of Arab people. They would be just as poor, illiterate and oppressed today, as they were before 1948, if Israel did not exist.
Other nations with a different worldview might have used such resources to build great societies. These Arab nations and people have squandered money and opportunities on ancient prejudices under the false notion that they are pleasing an angry and vengeful God who hates what they hate and wants them to wipe out his "enemies."
Yasser Arafat was not unique in the region. Others will follow him as they announce divine mandates to take up where he left off. There might be civil war among the various rivals for power - from Hamas to Islamic Jihad to other factions. If Hamas conquers Gaza after the Israelis withdraw, Egypt may rue the day it allowed tunnels to be dug on its territory for Hamas to smuggle weapons and terrorists into Israel. Those tunnels go both ways, and Hamas might use them to destabilize the government of Egyptian President Hosni Mubarak.
Of all the Nobel Peace Prize winners, Yasser Arafat was the least worthy. The award was an example of the self-deception practiced by many in the West who continue to believe evil people can be made good if they are simply given what they want, no matter what it might cost others.
Arafat is gone, but he won't be forgotten, especially by the relatives of his murdered victims.