I'll say for the Saudi princes the same thing I say about Musharraf. They're sitting on a powderkeg of fanatics, and doing the politically expedient things necessary to keep them out of power.
Do I like the fact that they use some of that money to fund Wahabbi nutjobs, who turn around and cause us trouble? No. Do I like the fact that the Wahabbi nutjobs aren't actually running Saudi Arabia, and funneling billions of dollars straight into the global jihad. Yes. That's about all the paean I can muster, and even that was paeanful.
I disagree with your approach for the simple reason of it being ineffective. I would honestly promote democracy, even if it meant the rise of fundies. The fundies then are then constrained by all sorts of international treaties. If they don't follow them, we have the right to bomb them back to the stone age (oh wait, that would be an advancement for them).
Take two examples. Afghanistan - don't forget - the whole world was with us when we bombed Afghanistan. And see how ineffective Hamas has become since it came to power.
Applying that to Pakistan, I would let Mush hang himself. And then when the fundies come to power, join India in making Pakistan a decent country again. It will be painful, but in the long run, better for the whole world. And much better than having a cowardly (not brave) lying deceitful Mush in power.