For many Rangers fans, the answer appears to be: "No, not really." Other Ibrox followers, however, will have reservations.
King is a fascinating and perfectly approachable man. I have interviewed him on two occasions and both were very agreeable experiences. Yet the fact remains that his recent conviction in the South Gauteng High Court in Johannesburg exposed a catalogue of wrong-doing which resulted in the South African authorities fairly throwing the book at him.
It had been a long-running saga, stretching back at least seven years, but the timing of King's guilty plea and conviction six weeks ago is not irrelevant to Rangers. A veil needed drawn over the case, good or bad, from King's point of view, given his desire to be involved again at Ibrox.
His list of felonies makes for grisly reading. The courts had petitions for 41 different breaches of the Income Tax Act by King. Earlier indictments on money-laundering and racketeering were not pursued by the state. Facing the prospect of jail, King pled guilty and reached a "plea and sentence" agreement, whereby the court convicted him on all counts accepted his pay-back deal. In pleading guilty, King agreed to pay back a hefty sum which reveals the degree of his evasions. In South Africa, King's reputation has been severely tarnished.
In conceding his dues, King faced two options: a plea-and-sentence deal, in which he would pay back the money, or jail. He opted for the former. The wording of 'The State versus David Cunningham King' case, as set out by South Africa's National Prosecuting Authority, actually makes pretty scary reading: "The accused [King] was sentenced to a fine of R80,000 [£5058] or 24 months' imprisonment on each of the 41 counts, being the maximum sentence provided for the Income Tax Act. The effective sentence, confirmed in 'the agreement', is a fine of R3,280,000 [£207,395] or 984 months (82 years) imprisonment."
On top of this, King was also made to pay R8.75m (£553,079) to the country's Criminal Assets Recovery Account, following their pursuit of him. As part of the punishment, the authorities also sold off a number of King's private properties, including a private jet, a game farm and a wine farm, in order to recoup their money. The courts also "restrained" three other residential properties until the case was resolved.
This is quite a toll, ending in multiple convictions in a South African High Court. Yet, given the euphoria of some Rangers fans at King's mooted return, all of it seems to matter not very much.
Let us not get into ironic gags about Rangers and tax avoidance. Let us stick to the matter of King himself. Is it right and proper for a man with such recent convictions to be the new king-maker of Ibrox? Could such a figure be convincingly installed as Rangers chairman?
Some fans, I believe, will feel uncomfortable at this. Of course, he has many things going for him, not least his fabulous wealth. When you look at the amount King is paying to the South African government, you only appreciate anew how rich he is.
I mean, how much wealth do you have to accumulate in order to cough up £44m in unpaid back taxes? King is super-rich and is a Rangers supporter. For some fans, that is maybe about all that matters.
He also ticks other boxes. Those in the media who engage with him find him personable and charming. As Sir David Murray proved, those qualities tend to go a long way in winning over those who might otherwise harbour some doubts.
I know this to be true myself, having interviewed King amid the idyll of Augusta National Golf Club, which he visits regularly. His charm offensives are pretty impressive. Journalists very easily take to him.
It may be that King, even if he does re-engage with Rangers in a hands-on role, remains a pretty distant figure. His home is South Africa and, given his love of that country, it is hard to see him leaving it to return to Scotland. In which case, a bit like Dermot Desmond at Celtic, his might be a subtle, under-the-radar sort of influence.
The controversy of King's potential return - if indeed anyone views it as a controversy - is also set to embroil the Scottish Football Association. Their "fit and proper persons" rule is one that is endlessly debated, with the SFA claiming it is the clubs' duty to enforce, while critics of the SFA claim the governing body is weak in terms of its approach to dubious figures.
King's previous involvement, having been a director in the run-up to Rangers insolvency and liquidation in 2012, is also now cause for debate.
The main question remains: is he the right man for Rangers? In recent months King has had a wretched time of it, his reputation left battered by his very visible high court case.
The reputation of Rangers has been damaged enough in recent years. Will King's return only add to that damage?