Pete Wilson would have still been in the senate and perhaps his 1996 presidential bid would have gone further as he wouldn't have made the mistake of promising not to run for president when he was running for re-election in 1994. He still would not have won the primary though. He might have run in 2000 as well which would have only split McCain voters. I doubt he would win re-election to the senate in 2000 but if he narrowly pulled it off, then he would lose in a landslide in 2006. As for Feinstein, she would have lost re-election as governor in 1994. She might have run against Pete Wilson for senate in 2000.
Well Feinstein was reelected to the Senate in 1994, if anything it seems to me being reelected to the Senate as a Democrat that year would have been harder than being reelected governor.
But yeah Pete Wilson loses in either 2000 or 2006 like you said.
And Feinstein likely challenges him and beats him in 2000 like you said.