"lesser of X amount of evils"
That's exactly what I was getting at. I'm cognizant of the corruption charges brought against Bhutto both domestically and abroad and I'm not naive enough to think that a hypothetical PPP victory in the upcoming election would bring around radical overnight transformation to the Pakistani government. Nevertheless, such a situation would have been much, much more favorable than the status-quo.
...and what if Musharrif is killed?
The U.S. has to have some sort of contingency plan to contend with such a situation. I'd guess that contingency plan involves ascertaining the status of the Pakistani nuclear arsenal.