What's your opinion on Khadafi?

As you well know, (former) Colonel Khadafi, ruler of Lybia, has gone through a change of heart lately: he's becoming more chummy with the once-hated Westeners each day and he promises to help them in every way in their fight against terror. What should we make of this? Khadafi was once one of the "rogue leaders" of the world: he sponsored terror attacks on helpless civilian targets (remember that Pan-Am plane blown upover Scotland?), he invaded the neighboring country of Chad for petty reasons (only to be defeated and beaten back by French troops), he stirred chaos and tensions in one of the most fragile areas of the world, etc. His country was attacked by US forces, Lybian planes and warships clashed with NATO forces continously (it seems strange to say this now, but back there France was the best ally for the US in the area), there were numerous "limited" clashes along the Egyptian border and so on. Plainly put, he's not the kind of guy I would put my trust in. But this has changed recently: after the collapse of the USSR (his main "protector" and supplier of much-needed goods and weaponry), the strains of the UN embargo began to be felt, despite the country's plentiful reserves of oil and natural gas, an international court ruled the Lybian government responsible for the Pan-Am bombing and so on. So Khadafi began to relax his "anti-Westener" attitude and to approach European leaders to end the embargo (which is by no means strict: Lybia can sell as much oil and gas as she wants and purchase anything, apart from weapons and nuclear material for her aging Soviet-built power plants). He found a very helpful friend in the Italian government, which has always had a particular "interest" in Lybia. It was once an Italian colony (from 1911 up until 1942) and it was again administrated by Italy in the post-WWII period, under UN mandate. Italy has always been a major commercial partner for Lybia, buying huge amounts of gas and oil, and selling lots of goods (including training and cargo planes in the '80s). All in all, I don't trust Khadafi: he's a terrorist leader trying to clean up his image, a shifty character trying to avoid a NATO (or Pan-Arabian) intervention to remove him from him power. He's a very dangerous man at the very gates of Europe. What's your opinion?