Individual muslims might convert out, but the vast majority are islemmings, heading for a sea cliff.
I think if their clerics and those who follow them were taken out, most --- the ones we refer to as the peaceful moderates would just forget Islam quickly enough. I read somewhere recently that many of the youth of Iran are now agnostics.
I don't think there is too much hope for many Arabs because to them Islam is their nationalism --- it's all about Arab supremacy and Arab control over the world but I can see the non-Arab Muslims reverting back or finding other belief systems.