While I do hear what you're saying, Issac and Paul, and yes, we must promote a clear distinction between religious moderates and zealots I still fall in favor of drawing Muhammad. If it were up to me, there would be a world "doubt your religion", or at least a "keep your religion to yourself" day however I suspect a suggestion of that would inevitably cause just as much, if not more public uproar. It is a sorry fact that we live in a world where religion still, for the most part, goes unchecked with an undeserved sacredness. That is why I feel that any opportunity to demonstrate that it is possible, moreover acceptable, to not abide by token scriptural commandments should be taken.
Draw Muhammad day is not without it's flaws, but overall I think it is worth it.