Will the election result actually be recognized by the losing side though? Seems far more likely that the current status quo (division of Gaza and West Bank) simply continues
Hamas rejecting the election now of all times would probably lead to a galvanized opposition of them not just among most of the Palestinian people, but in Gaza as well. I would imagine if they would conduct any sort of rejection or rigging of the results, a revolt against them would occur.
What I meant is that even if Hamas loses the election, their structures in Gaza won't just disappear. I can't really see how the President would reestablish control under those conditions. Even Hamas struggles to keep down the (even) more radical elements of Gazan society, so it would be rather surprising if Fatah actually gains control over the strip