I say no. It is a publicity stunt engineered by the US. Executing him will not do any good to the people that suffered under him, and will only serve to give his supporters another reason to hate the west.
It is a very delicate time in US politics for Bush and this sentance coincides very nicely with his lowest approval rating yet. The people who are the supposed power in Iraq right now were put in place by the US, and their power is a by-product of the US invasion. This is not just the politicians, but the judges who presided over the trial. They have a vested interest in wiping him off the face of the earth - Had he been found not guilty, he would have been back as head of state and their power would be eroded - though the US would never have allowed that to happen. The trial of Saddam Hussain should have taken place outside of Iraq in a neutral country and any sentencing passed should be free of US interference.
If a neutral court had found him guilty (and they probably would have done), and then sentanced him to death then I could accept that, but the trial has not been about justice, but instead has been about the Bush popularity contest. The decision to end a life should never have come under these conditions.