While Gov. Gray Davis squirms under threat of fiscal collapse and the drive to oust him from office, Arnold Schwarzenegger preens on national TV, pumping up today's release of ``Terminator 3'' and stoking talk of a run for governor.

Box-office receipts are still in doubt for the latest installment, but Schwarzenegger's reprise of his most famous role has given him a commanding stage from which to taunt the Democratic governor.

In recent weeks, Schwarzenegger has popped up all over: ``The Tonight Show with Jay Leno,'' ``Good Morning America'' and ``Entertainment Tonight.'' He has been featured in Esquire magazine and splashed on the cover of Parade. Tuesday, CNN showed clips of Schwarzenegger's new film, spliced with shots of a dour Davis, and posed the question of whether the aging action hero would soon become ``The Governator.''

The media blitz has brought Schwarzenegger more exposure than the wealthiest candidate could ever hope to buy.

``He is getting what is called in the political business, free media,'' said Marty Kaplan, director of the Norman Lear Center for the study of entertainment and society at the University of Southern California. ``He's good casting for a farce.''

Media circuit

Schwarzenegger dangled the possibility of a gubernatorial bid last week to Jay Leno, who introduced him as, ``the next governor of the great state of California.'' Schwarzenegger, who is a Republican, dodged a question about whether he planned to run, but kept bringing up the subject.

When Leno asked him what his kids were doing this summer, Schwarzenegger said they did what other kids do: ``They hang out at the shopping mall and gather signatures for the recall.''

He was less coy with Esquire, answering as he has many times before that he would like to be governor. ``If the state needs me, and if there's no one I think is better, then I will run,'' he told the magazine. He did not say whether he was talking about a recall or California's next regularly scheduled gubernatorial election in 2006.

Marketing prowess

Schwarzenegger's exploitation of his Terminator role for political ends is a subject of admiration among the political consultants who have worked with him.

``If Arnold can do a campaign with one-tenth the brutal efficiency of the marketing for `Terminator 3,' he'll be governor,'' said Bill Whalen, a former aide to Gov. Pete Wilson who helped Schwarzenegger prepare for a possible gubernatorial bid in 2001.

``This is a pretty good springboard,'' Whalen said. ``He has to realize it's his best opportunity to run, if he wants to.''

It remains to be seen how long ``Terminator 3: Rise of the Machines'' will be around to boost Schwarzenegger's bid. The New York Times Tuesday called it ``loud, dumb and obvious,'' and the Mercury News said the film lacked surprise and was less a sequel than a spoof.

Schwarzenegger's chief adviser, George Gorton, said the actor would make his decision after he returns from overseas, where he is now promoting his new film.

Private polls have shown that Schwarzenegger's presence on the ballot could actually tip voters in favor of the recall, if it qualifies for the ballot. Voters would first be asked if they wanted to recall Davis. Second, they would be asked to choose an alternative to the governor.

John Hein, lobbyist for the California Teachers Association, said his group has found that about 30 percent of voters say their decision on whether to recall Davis will be affected by who agrees to run against him.

The governor does better against Darrell Issa, a Republican congressman from San Diego County, or against last year's Republican nominee for governor Bill Simon. But Davis does worse against state Sen. Tom McClintock, R-Thousand Oaks, or Schwarzenegger.

No guarantees

Celebrity is no guarantee of victory. John Glenn was seen as a shoo-in for the 1984 Democratic nomination for president because he announced his candidacy around the time ``The Right Stuff'' was released. But the movie did not do that well, and Glenn did not win the nomination.

Schwarzenegger may have other liabilities. While promoting his new film, the actor has at times made some impolitic remarks. In the Esquire interview, Schwarzenegger, using off-color language, said he could understand if people thought he was dumb because of his muscled physique, since he often caught himself thinking the same thing about shapely blonds.

``Shooting off your mouth comes back to haunt you when you go into politics,'' said Garry South, an adviser to Davis. ``This is him now, talking to a national magazine, talking about great T & A.''

But some voters may cut the actor some slack for the sheer entertainment value of having Schwarzenegger as candidate.

Sally Buchanan of San Jose attended an early screening of ``Terminator 3'' in San Jose on Monday night. She described herself as a Green Party member and said she plans to vote against the recall. But she said she liked Schwarzenegger's new film and found him a compelling enough candidate that she might choose him on the second part of the recall ballot.

``It would be like Minnesota, only I think he would be smarter than Jesse Ventura,'' she said. ``It would be so ridiculous to do it, I would probably vote for Arnold.''