Just out, Thomas Friedman's NYT essay on "What Does Morsi Mean for Israel?"
In his opinion, possibly some very good things (as in real peace between Israel and the Egyptian people, as opposed to a cold and brittle peace between Israel and Mubarak). Sounds wonderful, but it's all predicated upon a "Muslim Brotherhood-led Egypt."
What he'd learn is that, Morsi or no Morsi as president, Egypt rests firmly in the grasp of the military - specifically, the high officers who comprise the Supreme Council of the Armed Forces (SCAF). Parliament remains dissolved, the higher judiciary seems to answer mostly to SCAF, and the presidency itself has been semi-neutered by SCAF fiat.
Bottom line: SCAF ain't happy, ain't nobody happy. The new president's job will be to somehow accommodate that reality to the reality of the (very slim) electoral victory that brought a Muslim Brotherhood candidate to "power" (such as it is), and to the demands of constituents who are counting on him to improve their lives even as the Egyptian economy founders.