I happened across a helpful book on this today -- an Eisner bio, Prince of the Magic Kingdom, by Joe Flower -- and read through it's section on Steinberg's attempted take over. It answered a lot of questions I had about this episode and its potential.
Here's what I can say: Saul may well have had good intentions for Disney, but given that he would have sell assets to pay the debts he incurs for the purpose, not to mention the current management talking about going "scorched earth" to stop him, the company likely, at the very least, would not do nearly as well in the medium term. That a lot of said resistance had more than a tinge of anti-semitism likely wouldn't help to make the picture any prettier.
Steinberg's plans for Disney (AIR) included expanding Disney's theme parks (with expedited development in Europe), greater development of Disney owned lands (esp in Florida), and a greater presence on network TV. While (I believe) he also said he wanted to see more animated features and such, that struck me as the less passionate of his plans, and seeing as he'd have to go in making quick money (selling assets, etc) anyway, I'd say this is the big change TTL is likely to see -- less focus on Disney films, more on expanding parks and land development, as well as an earlier foray into Television. Combined with above mentioned resistance and damage done to the company in takeover, I'd say that unless Steinberg's changes somehow produce the same kind of profits that Eisner managed OTL, Disney could once again be in very serious trouble -- holding, basically, a lot of developed land and a TV network -- by, say, the early 1990's. After that...