My perspective as a long time Mopar fan...
Unfortunately at this point in time I feel that as a business case, Chrysler is not worth saving. GM would be much wiser to pick up what is left instead of taking on this white elephant. There really isn't much of value anymore since the germans totally obliterated the company. The only high points are the minivans (which still leave a lot to be desired), Jeep (which has been watered down with the compass/patriot), Ram trucks (which are at the end of lifecycle and have nothing on the new GM trucks), Cummins diesel contract, state of the art Belvedere, IL factory building the Caliber/Compass/Patriot, GEMA engine plant and series of (3) 4cyl global engines 1.8/2.0/2.4, Hemi brand (GM LS-series V8's are superior in every aspect), and the LX platform cars (end of lifecycle)...
Basically there is pretty much 100% overlap and in every case the current GM offering is far superior; caliber vs cobalt, sebring/avenger (brand new and a total joke) vs aura/G6/malibu, LX vs G8/CTS/etc, ram vs silverado/sierra, durango/aspen (selling so well they're closing the factory!!! lol) vs GMT900's, nitro vs torrent/equinox... and on and on and on...
Add in more debt, more union issues, more employees to axe, more restructuring, more overlap, more divisions, more costs, more more more more...
GM is doing absolutely awesome right now, they have a lot of momentum going, the new products are best in class, the designs/powertrains/engineering are all awesome... why throw a wrench into the machine now???