The Egyptian "revolution" that started January 25th in Cairo and ended with President Hosni Mubarak's departure from office will be good for their neighbor Israel to the East only if Egypt's government does not fall into the hands of anti-Israel Islamic fundamentalists. It does not appear thusfar that the young, liberal, educated Egyptians who started the revolution nor Egypt's older, experienced economic elite want the Muslim Brotherhood or any other one-sided religious or ideological group to run the country.
As of this date, the Egyptian army has taken control of the day-to-day administration of Egypt. They have publically stated that they will continue to honor the Egyptian-Israeli peace accords which have been in place for years despite both President Mubarak and Vice President Suleiman's loss of political power. Egypt's progressive revolutionaries, for example the young Google executive from Dubai, United Arab Emirates, Wael Gohnim, seems to be unconcerned with any political ambitions himself. He and his followers, however, have made it clear that they did not fight for freedom for nothing and do not wish to go back to any kind of regime or any political power who would impose Marshall Law, loss of freedom of the press and speech or be otherwise unconstructive to a new and improved Egypt.
The most notable thing about the transition changes taking place in Egypt right now is the confidence of the Egyptian people. They have asked for no help from outsiders, although I do believe they want their money back from any accounts, specifically the Swiss accounts, where Egyptian funds collected over years of despotic rule may have been squirreled away. Egypt also can boast that they have had several Nobel prize winners and two who are living, ElBaradei (who unfortunately tossed his hat into the ring alongside the Muslim Brotherhood) and Ahmed Zewail (Council of Advisors on Science and Technology) have both returned to Egypt to help with the transition period. The old regime relied upon a council of "wise men" who I assume will continue in that role. This group has been primarily successful religious, business and professional people who have helped determine the course of Egypt's destiny of the last 30 years.
Egypt is home to many sacred and historical sites such as the pyramids. They also hold control over the most major port site in history, the Suez Canal, so it is not anticipated that the Egyptian Army is going to allow any major disruptions to the peace and security of that great nation. That would include any uprisings from Palestine over territories in Israel, although Egypt has historically sided with the Islamic Palestinians. Israel's Defense leader Ahud Barak (not to be confused with Barack Obama), and Israel's Prime Minister Benjamin Netanyahu (who studied in the U.S. ) both have spoken out now publically about their concerns. They now see who was behind the revolution in Egypt and also understand that such democratic desire can and will spread throughout the region to other countries like their other neighbors Jordan, Syria and Lebanon. This can only be good news for Israel, if infact the old fundamentalist and despotic regimes fall while educated, open-minded, economically secure folks take control of those outlying regions. Iran is another story, since they had an opportunity which was lost to what now appears to be a theocracy or a country ruled by religious mandate. This has not stopped the Iranian people from pushing for a more democratic regime. Bahrain, Libya and even the so-called American-led and "liberated" Iraq are now asking for greater freedoms and less corruption. If the people of these regions who are relying on ideological changes succeed in their influence, it might prove a great boon to Israel's attempts at conciliation among their neighboring countries. If religious overlords or despots control the countries, it will prove difficult for Israel to carry on conversations of peace.
Israel has always weathered many storms. After all, they came from near extinction to being able to restore their homeland's property, wealth, language and culture since 1948! Biblical prophecy has always weighed on the side of Israel being winners one way or another. What we will see and probably should see from Egypt's revolution on behalf of Israel is a more rapid, refreshing and reinvigorated conversation about bringing peace throughout the Arab, Islamic, Christian, Jewish and secular regions.