CNN has gone from covering Egypt to Bahrain to Libya now. I honestly do not know whether the outcome of these revolutions will result in long term improvements for the people of North Africa and the Middle East. Often democratic revolutions go astray and bring about worse regimes or brutal mob violence against segments of the population. So far it looks like Egypt's new government will be better than its previous one, but it is still too soon to tell. What will happen in Libya is even more difficult to predict. Currently, it looks like there will be a significant amount of bloodshed in Libya in the near future, however.
One thing that needs to be born in mind is that democracy and majority rule are not synonomous with tolerance and human rights. Indeed in many places the majority of the population has had no problems using the instrument of democratically elected governments to deny all human rights to ethnic, national, racial, or religious minorities. I have not seen this manifested by the current movements in North Africa and the Middle East. But, the democratically elected government of Iraq has not exactly had a perfect track record regarding the civil rights of the country's Sunni minority. So such sentiments are not absent from the democrats of the Arab world.
In other places in the Middle East the situation is far worse. After all Israel is often tauted as the only democracy in the Middle East. This is not true in that the Turkish Republic has just as good a claim to being a democracy as Israel. However, Israel does demonstrate that democratic regimes often repress minorities not in spite of being democratic, but because they are democratic. The systematic violation of the civil and human rights of the Palestinians living under Israeli rule is supported by the majority of the Israeli population. Technically I believe this is still a slight majority of the total number of people governed by the State of Israel. Of course democracies in which 51% of the population use democratically elected governments to confiscate all the property and deny fundamental rights to the other 49% are generally far worse than most dictatorships. But, the US and EU do not seem to realize this and believe that the mouthing of democratic slogans and holding of elections justifies the most brutal repression of people who are not part of the 51% or more majority.