Here's what will happen... As we've seen today, Bush is already back on top of Kerry even though it has been 24/7 Kerry on the news and in discussions. Furthermore, Kerry only pulls in the 40's in Democratic caucuses. That means, unless Kerry veers further left, his base will stay home, especially the youth vote that Dean counted on so much. Dean lost in Iowa because his supporters didn't show...IMO.
As we move into the summer, the GOP will have a significant cahs advantage and will be able to spend primary $$ until their convention in September. The Dem convention is in July...way too early...and thus must start spending general election $$ as soon as it is done. That cash advantage, along with the capture of bin Laden, the transition to an Iraqi government and great timing on the economy will result is a nice safe 55% win for Bush.
This election, as much as some people hope, will not be close.