I hope true democracy will prevail, but I wouldn't put any money on it. A Maoist state would be a disaster for Nepal, but so would absolute monarchy. Communism thrives on these situations where a large percentage of the population lives in poverty and the governmnent is unable to alleviate it. Force on force and will vs. will I would bet on the Communists in the long run.
I believe if the King does not restore some semblence of democracy and gain the confidence of non-Maoists in short order, he will eventually lose - his life included. People turn to Communism when given no better alternative.
In Kathmandu, and I suspect elsewhere in Nepal, there is a fairly large Tibetan community that escaped the grasps of the Communists before. I'm sure they don't want to see it again.