Probably not a bad human being, at least by the standards set by many political figures the likes of which generally move on to the national level, but one of the weakest advocates the state of California has ever had, and as such one of the worst of the current state governors. Waffling on everything, Schwarzenegger stands for no principle at all, and can get away with moral weakness because he's physically muscular. Popularity tends to hinge on ironies like that.
Look at what Schwarzenegger is doing to California's universities, and you'll get a taste of the irony. After years of prosperity in a state that constitutes one of the world's strongest economies, Schwarzenegger has announced that he will cut nearly half a billion dollars from the University of California's budget request this year. Students on state campuses are feeling the effects already, as course offerings are being slashed by nearly 50% for next year. It's astonishing to think that a Californian is so willing to destroy the state's legacy to its children--the legacy of probably the greatest state college system ever founded anywhere. Not to mention what is happening to the prestigious Cal State system, the community colleges, and so forth.
Schwarzenegger could, of course, propose some tax increases to avoid such casulaties, but of course he'd rather just flex his muscles.