The Iraqi elections appear to have gone well, with a high Sunni turnout. Hopefully, the post-election haggling won’t take months like last time, now that there is no longer a requirement for a two-thirds majority.
The big question now is whether this will lead to a US withdrawal, either because the new government demands it or because the Bush Administration decides to declare victory.
Among the possible victory conditions, the holding of elections is the only one likely to happen any time soon. There’s no reason to think that the insurgency will end as long as the occupation continues – similar insurgencies have lasted for decades in many countries.
As for training Iraqi troops, it’s clear that the problems here are not going to be resolved simply by the passing of time. Basic training for US marines takes 13 weeks, and (IIRC) the Iraqis get less, so obviously there has been plenty of time to train troops. The real problem is that any serious armed force is bound to be under the control of one or other of the militias, which might turn against the US.
A staged withdrawal would probably lead to an intensification of the insurgency in the short run. But the end of occupation would reduce support for the insurgents in the long run. It’s not a great option, but it’s hard to see a better one.