I had no idea they considered the duke of Savoy. But the way you phrase it suggests that in-his-own-mind sort of way he considered himself a candidate.
The elector of Saxony strikes me as someone who could be even more awkward on the throne than Frederick of the Palatinate. He seems to have been very pro-Habsburg (his wiki article says that it was because he didn't like how Brandenburg and the Palatinate were expanding their territory or their prestige). Although, if Frederick could ally with him swiftly enough that he doesn't seize Lausitz and Schlesien because he's been "bribed" by the emperor, that might help.
Also, wasn't a prince of Anhalt-something considered for the position as king too? Or am I confused?