I am certain that one reason Bush is raising such a huge war chest ($400M?) is that he is creating two separate sets of campaign material: one against Kerry and one against Hillary. Bush is not going to be taken by surprise if a Dem convention knock-down drag-out nominates Hillary.
I still laugh every time I remember what one service buddy told me about Hillary's visit to Iraq. Without exception, every helicopter and jet she commandeered in Iraq for her 'royal visit' was unofficially referred to as "Broomstick One."