Egyptian President Hosni Mubarak is expected to step down shortly. Tonight (Egypt time), Mr. Mubarak will address his nation and announce that the Egyptian military will take control of the country until an election can be held.
This is probably the best way forward. It keeps Islamists from talking control of the country and it gives Egyptians time to liberalize (establish free press, etc.). This will go a long way towards guaranteeing a free and fair election.