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I also think that there are other factors lurking out there that may not let her wait till 2008. It's clear to all that the Clintons are dragging to Democrats into political oblivion. I think that they may take her on in 2005 as an attempt to get the party back. It's too late and it will be an ugly fight.

Assuming that all she wants to do is become president of the US, and it's a given that she'll be trounced in the re-election for senate in 2006, then yes, 2004 is her best bet. Pushing Clark onto the scene is a way to propagandize the idea that Democrats are strong militarily. The other Democrats can be used to energize the Democrat base by bashing bush, and she can run with Clark as a moderating influence who looks strong on defense with a General in her hip pocket in order to get the independents on her side.

If her numbers in NY are weak for a 2006 re-election bid in the senate, then she'll run for President. If they're strong, I think she'll take a VP position to put a stamp into the public's mind that she is Executive branch material, and she can dance around her senatorial campaign promise of not running for president because she'll be "called" to serve as a VP candidate. So even if she loses with whoever calls her up to be VP, she gets re-elected into the senate 2 yrs later and keeps her in the public eye. This will ensure her return as a presidential candidate in 2008.