I think that the Falcons end up winning here. They have a major rebuild coming and they need someone willing to do so.
Arkansas, on the other hand, I don't get at all. I can imagine no situation where this ends up well for them. Petrino comes to town, wins for two years with Nutt's players, and makes all of those crazy people think they got the better end of the deal by running Houston out of town. Then one morning, Frank Broyles wakes up in a bath tube filled with ice cubes, missing a kidney, with note about seeing a doctor. Bobby catches a flight to Shanghai and traffics opium for a few months, before trying to steal the Bama job, as those are the only fans with more unrealistic expectations then Arkansas right now.
Still, I guess this is a better alternative for Arkansas, rather then looking into the mirror and realizing that they themselves, in their infinite craziness, ran a good, although equally crazy, coach off for some off season shenanigans.