An Israeli TV report apparantely reported him clinically dead about a half hour ago. Since then, other reports have surfaced saying he is very stable and alive.
Read for yourself...
A Canadian news piece - http://www.cbc.ca/story/world/national/2004/11/04/arafat_health041104.html
CNN's version -
If Arafat were to die, I can't even guess what might happen to that region.