Shmuel, it is an important observation that the Saudi/Arab plan is a set of principles rather than a plan. But it also needs to be noted that it is not a very good set of principles:
Move back to the Auschwitz borders, give up the Old City, and recognize the right of return: after that, we’ll recognize you.
The difference between a “plan” and a “principle” is that one is presumably negotiable and the other presumably is not. The Saudis/Arabs have yet to indicate that their principles are negotiable, and their “plan” contradicts the principles to which the U.S. committed itself in the April 14, 2004 letter to Israel: no return to those borders, and no right of return to Israel.