Arnold to Pass on Recall Election?

The latest rumor, relayed by Hugh Hewitt on his show tonight, is that Arnold Schwarzenegger has decided to stay out of California’s recall election to take place this fall.
I’m not competent to judge whether this is a politically smart move or not. The general rule in politics is, any time there is an opportunity, take it–it may not come again. Maybe Arnold is concerned that the Democrats will unite behind a single candidate who will inevitably defeat an already-fragmented Republican field. One thing is clear: Arnold is like Byron’s tiger, who only springs once. When he makes his entrance into politics, he has to win. If he swings and misses, the mystique is gone and his career is toast.