No.
I don't think he would be a good Prime Minister, but neither is Cameron.
The Red Ed nonsense just makes me laugh. If he was genuinely more Socialist, he would probably get more votes, but he isn't.
The Labour Shadow Cabinet is weak. They have been a poor Opposition. And I am not sure they are ready, but the Coalition have been terrible, so even a flawed Miliband would be an improvement. And with a veteran Deputy PM in Salmond keeping the new Coalition on the rails, it just might work.