The critical thing we don't know at this point is who is behind the protests. Until we know who is, we can't support (or not) anything that is going on over there. For example, is the military behind the unrest in an attempt to push out Mubarak? Is it fundamental (or radical) Islamasists? Is it the Muslim Brotherhood? What role, if any, does Iran have in the unrest?
As was proved to be the case in Iran when the Shah was in power, we need to be very suspicious of what the press is reporting -- not necessarily that it is misreporting, but since most don't speak the language, they seek out English speaking sources. What they often hear is not what is going on, on the ground.