Possible Outcomes:
Qaddafi wins (Most likely outcome): Very bad, comes back with vengeance and purges people in own country, might lash out as in the 80s, will definitely have a more adversarial approach with US particularly but also France, UK etc. *** Most probable: very Bad.
Rebels win (Less likely outcome): Outcome uncertain in so far that we don't just get another strong arm rise to power there who's just as repressive and ruthless as Qaddafi. Possible that a more dangerous leader with a more hostile and ideologically based view rises to power (unlikely). But what is the likelihood that a free democratic pro West open and transparent society comes from this if we already preemptive stated that we will NOT commit ground troops? Very, very unlikely. *** Most probable: bad.
Seriously, what is the scenario in the victory of either side and what is it's likelihood that something good comes of this? So, the question is really if this will be very bad or just bad.
It may be that the only thing worse than losing this war is wining it.