Chances of democracy aside, I don't buy the arguement that having a democracy will necc lead to peace in Iraq. I think if you did a hard count, most of the world's democracies are in trouble and/or failing. Just this year you could count Haiti, Venezuela, Columbia, (hell, throw in most of S America,) Zimbabwe (not really a democ. anymore,) Liberia, DR of Congo, Russia (?), etc etc.
Ok, just for arguements sake that Iraq manages to pull together a democracy ( a big assumption,) who is to say that they will be peaceful and prosperous? Haiti has been trying for ~50 years and they still don't have it right. The biggest indicator of success seems to be wealth. That is a huge reason why Japan and Ger succeded IMO, and why many of these second-tier countries consistantly fail.
Now, where does Iraq sit? Obviously on a s@#%load of oil, but other than that they really don't have anything. They are a one-dimentional economy for the most part. IF the oil wealth is broadly distributed ( :roll: ) they may have a chance but I'm not betting on it (especially given their social situation, lack of political experience and underdeveloped infrastructure.) Venezuela and Nigeria both have strong oil revenues but these don't seem to trickle down well. If anything, oil wealth seems more of a curse than a blessing as many oil-producing countries are racked with social strife and strong gentrification which usually leads to unrest.
The idea that simply bringing in democracy to turn Iraq (and the rest of the middle east) into a happy, prosperous and peaceful Western-style democracy anytime soon seems a crack-pipe dream at best.