Interesting election, and it went pretty much as I wanted it to. And instead of wondering what the results would've been under FPTP...how about under a German-level threshold of 5%?
Wait a sec...
all I can tell you without looking (since I've checked that already) is that under Hare-Niemeyer, Kadima, Avoda and Likud would have a seat less each, and Gil, United Arab List and Hadash one seat more.
Frankly, I can't imagine a 5% threshold getting passed in Israel - I can't imagine an Israeli government trying to force the Ashkenazi Haredim out of parliament. (they took around 4.5 IIRC)