One of the things that makes the Dems look so stupid is that the Clintons are playing the party like a Strativarious (sp?), and the party refuses to admit it publicly. It is, I think, obvious that Hillary is running for the Presidency, the question is not if, but when.
When Bush wins in '04, Hillary will be in perfect position to win in '08, due to the cylical election preferences of the nation (Rep-Dem-Rep). That cycle was only broken by Bush I, in recent times. That is why the GOP '04 VP is so important. Hillary will beat Cheney, she may not be able to beat Rice. This is why I want Rice to be VP in '04.