Opening the polls in elections is a start, but it really depends on what the people want and if they are able to maintain the path. There will be resistance and fighting. Even with open elections, if non democratic people are elected it still won't be a democratic nation. Voting will simply be a democratic aspect of the nation.
I think it is great that their are Libyan elections being held and is a great start of leading to Democracy. I feel that any time people get the chance to vote and have their voice heard only leads to more and more great things. Elections are a great way to start and make change.
I think that if the polls can stay free of controversy and the people can keep the outcome from being stages, then yes, the country is ready for democracy. They worked really hard to overthrow Muammar Gaddafi and they deserve to live in peace and have the choice of who they want to run the country.
No, the Lybians are not on the path to democracy, because there are too many extremists in the country and they overshadow everything. The extremists showed what they could do when they overtook the U.S. embassy. They will continue to terrorize their own public into an extremist political system and way of life.
Unfortunately, Muslims can't usually be governed democratically. There are only two ways for any majority-Muslim country to function: chaos, street violence and corruption under a nominally democratic government, or order and relative peace under a dictator who is usually high up in the military and allied with either the United States (which has proven to be a fickle ally in recent years) or Russia.