Shia power is on the rise. With the toppling of the Iraqi regime, Hezbollah the junior partner in Lebanon, and the alliancewith Syria, Iran has deftly maximized it's influences in the region.
I think it would be extremely foolish for any Sunni country to support Israel over Iran. Lets not forget that Hezbollah (with Iranian support) is the only arab group/nation to give Israel a drubbing, Iran's commitment to the Palestinian cause can not be doubted, and it occupies a strategic natural resource/geographic positin in the Gulf.
I say we all step back and see the show.
Sadly, its not the commitment to the Palestinian people it is the commitment to power in the region and wider Islamic world. It is a power struggle between two non-powers which is being played out in the streets of Pakistan, Afghanistan, Iraq and soon others to follow. If Iran is interested in the plight of the muslims, it would never have meddled in Baluchistan (See Bugti and Company). So dont be so naive and think that Iran will help the muslims, it will use the religion to gain sympathy but will always act in its own best interest.