Jay should do the Arnold.
The last 2 years he focused solely on the Olympia and missed his peak.
When he was doing the Arnold and Olympia back in his prime (2001-2004) he was never in bad condition. So his track record shows that he can peak twice a year.
Currently, he cant peak once a year.
So yes, he should do the Arnold. He can win both shows in 2009 IMO (if he is full, dry, and cut).