At the risk of being crushingly negative. I have a major problem with the idea of Butt or anyone else as a caretaker. It usually ends in disaster for most big clubs when they go down this route simply because being a caretaker manager is completely different to being the manager. If we give it to Butt for example, he comes in, steadies the ship, we play some nice stuff and have an "ok" season rescued from the rubble of the current situation there will be a massive clamour for him to get the job full time but being a full time manager, implementing a transfer plan, coaching players long term, developing tactics etc is far different from a short sharp kick cup the bottom. The football world is littered with examples of managers given the job on the basis of a good spell as caretaker who were down the job centre by the following Christmas. And thats best case scenario where he comes in and does well, obviously if he comes in and doesn't, well he doesn't. There is also the chance that he comes in, does well, but its made clear he isn't in the running for it full time, which just heaps pressure on the next guy when he gets a bad result - "we should have stuck with Butt".
I appreciate that isn't the most optimistic of views but Im not at my most optimistic right now!!!