I'd agree with most people that AH would dissolve sooner or later.
A point noone saw before: Germany might not be that interested in keeping AH alive. With AH dissolving, there'd be German Austria, Bohemia, Moravia and Slovenia ready for annexation by Germany.
The result of a dissolving AH would probably look prety much like South-Eastern Europe in 1942: small countries, dominated by Germany economically and politically. These smaller countries would be more stable than AH and weaker. Furthermore there'd be some thrones available for German princes: kingdom of Hungary, kingdom of Croatia, kingdom of Bosnia, kingdom of Slovakia... (I don't see the Germans allowing for a Jugoslavia when they could have a couple of smaller states). Instead of a great power, which AH would still be - more or less - Germany would get a backyard of small states competing with each other but under German dominance.