If you believe that an uninformed opinion can be useful for seeing through the chatter, read on...
At this point it is ridiculous to claim that Hillary cannot win, but her chances are overestimated. I apply what I call The Angry Ape Test to the candidates. Imagine each mimicking an angry ape, and ask how pretty or appealing the resulting picture is. Most swing voters perceive America as being at war and so they demand toughness. They demand An Angry Ape, if not at every moment in time, at least in principle. Most Americans don’t find an angry Hillary to be a pleasant Hillary, whereas an angry, raging Giuliana fits his basic image. Americans claim not to be biased, but at their core they don’t much like angry women; being female remains Hillary’s biggest barrier, even when explicit prejudice is absent. Related prejudicial forces will keep Barack Obama from the presidency. Being black, he is supposed to sound reasonable and intelligent all the time. He is not allowed to mimic An Angry Ape. Americans want their first women President to be like Margaret Thatcher — firm, no-nonsense schoolmarmish strength without much radiation of anger — and they want their first black President to be like Colin Powell. We will allow "Magisterial" — I’m too strong to need to throw a tantrum — to trump Angry Ape, but Hillary can’t play that card. Barack is too young, too inexperienced, and doesn’t have the military record.
Mitt Romney also can’t do The Angry Ape. This same hypothesis suggests McCain still has some chance, though obviously his path to the top is no longer clear, given his limited resources. He can at least do The Ape. This is the main reason why I still think Giuliani will win.
Under this theory foreign policy disasters, no matter who caused them, will help the Republican candidate. We will demand An Angrier Ape.