Highly unlikely. The Arabs have shown time and again their willingness to try to destroy Israel with no provocation nor any "international" law. When they felt like it, they have attacked.
In 1967 and 1973 wars, after nearly getting wiped off the face of Arabia by the IDF, their tactics changed. They switched to using Goebells (sp?) type of propaganda to twist the world opinion as to what they are doing. They also started to use their advantage of barbarism over Israel's civility. This is what brings us here.
At this time, if the Arab nations had the stomach for war with Israel, we would be in the middle of it already. They are waiting for the kangaroo court of the UN to complete it's destabilization and disarming of Israel before they will finally commit their military.
As despicable as I find this, I have to agree that it is their only viable strategy in achieving their goal - the destruction of Israel. I am waiting with baited breath to see when the world will admit that the UN, EU, pan-Arabs are emperors with no clothes.
What do you bet the UN tries to snap up Sharon for "war crimes"? I can foresee a scenario in which this set-up gets played out again and again: suicide bombers, Israeli incursions, war crimes accusations, president snatched by the UN, until Israel gets the president that the UN wants it to have: one that will agree to anything, including "right of return." And once that happens, it ends with a whimper, not with a bang. And it won't even make the mainstream news.