Okay, first issue: taxes. Bustamante says they aren't high enough, that he'll raise income taxes on all but the lowest-income folks by at least $8 billion, that he wants to do away with Prop 13, and that the way to attract more jobs to the state is for its government to "invest more in higher education."
Schwarzenegger says that taxes are too high, that he won't raise taxes save in the event of terrorist attack or natural disaster, pledged support for Prop 13 (and rebuked Warren Buffett for suggesting CA should hike its property taxes), and that the way to attract more jobs to the state is to reduce tax and regulatory burdens on employers.
Whatever similarities they may share on abortion, gay issues, and gun control -- which are important, they don't sound "virtually identical" to me on what most Californians consider the single most important issue.
Or "other" emergency. A hole big enough to run a "hydrogen highway" through.