While neither the forecasters, nor I, expect much impact until next winter, I think that an El Niño would be welcome in Southern California and New Mexico -- and I'm guessing Arizona since it is in between.
I suspect that it would take a couple of years to really break the drought and replenish the water supplies -- and an El Niño might actually reduce the snow pack in The Sierras and The Central and Northern Rockies which actually feed the rivers that are used for a lot of California's drinking and agricultural water. But I'm sure it would still be welcome.
At least as long as we don't have something similar to what happened in 1998, when the heavy winter rains led into a fairly dry summer with lots of dry spring growth ready to catch fire.
And who'd have thought that I'd have to type up two posts with a lot of "ñ" (ñ) codes in them in one day :-).