It seems all but over for Col. Gaddafi, even though some of his loyalists are still resisting. Most of the country including Tripoli is now under the control of 'rebel forces'. Col. Gaddafi should realize that the game is over and order his loyalists to stop shooting.
The transitional political establishment needs to take charge immediately and set up an interim Government for 3 to 4 months. Their first task should be to disarm all rebels, take back weapons and bring peace to the streets of Libya. Leaving arms in the hands of rebels as was the case with Afghan Mujahedin post Soviet withdrawal and discharged Nigerian soldiers post Biafra war, can be dangerous and lead to civil war. They transitional authorities should also ensure that there are no retributions against Qaddafi loyalists and Qaddafa tribe as politics of revenge can only make matters worse for Libya. It is time to take all those young men off the streets and let them get on with their daily lives.
The transitional Government should set up a legal/political task force to draw up a democratic Constitution for public approval in a referendum in three months, so that free and free fair elections can be held soon thereafter for installing a legitimate Government in Libya.
Gaddafi may have done some good work for his country in his 42 year rule, but he was a dictator after all. He excluded some tribes to promote his own. Why do dictators cling to power until death, don't they learn lessons from history? Gaddafi should have offered to step down once Tunisian and Egyptian leaders fell. But he hung on to power to his own peril.