Another old Italian? I think that that would undermine the sense of momentum that JPII worked so hard at building during his lifetime. Actually, visions of another aging Paul VI are kind of a downer. And, given medical technology, this pope may live past 100 years of age!
I think the Cardinals will be looking for someone with a much shorter reign this time, to follow the nearly 30 year papacy of JPII.
I do think Arinze is a good possibility, but I think he may follow the next pope. I think Arinze is or will try to bridge the gap with Islam and imho this will be the beginning of the end.