Arnold would have to follow the same drug protocol being used by all of today's top Olympia contenders, so the question is this: "If Arnold were to use the same dope that today's Mr. O contenders use, would his physique at least put him in the top 10?
My guess is "no"
From what we have seen at his best, his physique wouldn't compare. Big Chest, Good Bi's, Tri's and calves, but we have never seen him shredded to the bone and "morphed" or 'mutated' by the incessant use of HGH and all the other shit.
If he really was a Schwarza guy, maybe then, just 'maybe...'