The natural followup to the Arab League's continued back and forth about whether they'll deign to talk to Israelis. How distressing:

The Saudi King Abdullah on Monday said the Arab initiative offering peace with Israel will not remain on the table forever. The king stressed that Israel has to understand that the choice between war and peace will not always stay open. Abdullah spoke Monday in Kuwait City at a summit focused on boosting economic growth and development in the Arab world. The Arab peace initiative demands Israel withdraw from all land captured in 1967 in exchange for official Arab recognition.

Surprisingly, this AP writeup leaves out the part where the Arab initiative also requires that Israel commit suicide by opening its borders to three million of the world's most pathological anti-Semites - the so-called Right of Return. The Arab League can't really settle for anything less since even Palestinian moderates won't give up on it:

The problem here isn't just with the worst of the violent rejectionists. Even the moderates on each side remain too far apart. Fatah Party leader Mahmoud Abbas is clearly more moderate and reasonable than the leaders of Hamas and Islamic Jihad, but even he can't compromise on the "right of return," the so-far non-negotiable demand that all Palestinian refugees and their descendants from the 1948 war be allowed to return to settle in Israel. Israel would become an Arab-majority country if that were to happen, and most of the would-be arrivals have been radicalized in politically toxic refugee camps. The "right of return" would ignite a civil war worse than Lebanon's.

And even if that wasn't true Syria has already declared that they're bailing on the Arab Initiative. So the "comprehensive land-for-peace offer" is neither comprehensive nor is it limited to territorial demands. But other than that: great deal.

References:
* Arab League chief expresses support of diplomatic steps against Israel [YNet]
* Saudi king warns Israel: Arab peace offer not forever [JPost]
* Times UK Celebrates Saudi Peace Initiative - Now Without Peeking, Do You Think It's Good Or Bad For Israel? [MR]
* The Mother of All Quagmires [Totten / Commentary]
* Assad: Arab peace initiative dead [YNet]

Previously:
* Peace Process Talks Stalling Today Because Of Something. Or Because Of Something Else. Etc.
* Egypt Violates The Camp David Accords. Again.
* World Lectures Israel on How To Achieve Israeli Security [MR]