Far from the PA being in any position to bargain and sign binding documents it's in a dangerously unstable state at the moment with Hamas threatening to take over in the West Bank. Considering Olmert's rocky state of health I can't imagine that his whole mind is on business at the moment, either. In sum, I wouldn't give much for the chances of anything earth shaking happening, but there might be small side deals that ease the position for all.
Israeli ambassador to U.K.: Elements of left 'in denial' about 'disease' of anti-Semitism (Haaretz)
from the article: You can learn it in a negotiations course