Yes, and that would be some odds. The GOP still has fundraising in its corner, a historical trend in voter registration and recent voting patterns, a limited number of vulnerable seats due to incumbency protection, and a better (less worse?) approval rating than the Dems -- and a proven fundraiser in President Bush that is more popular (less unpopular?) than both Congressional parties.
But the biggest thing is: are the American People ready to trust the left to protect our security. I certainly think they are not, but I get most of my news here at FR, so I'm not by any means sure that what I think is the mood of America actually is the mood of America.
I overheard a conversation at work on Thursday. It was in the cafeteria. Two guys were talking about the weather (we've had some wild storms here with significant property damage flooding in the region) and one guy mentioned "global warming" and the other guy just offhandedly said "well it's pretty obvious something like that is happening."
I don't know why I mention that... it probably doesn't have anything to do with the election. I think people are some what fed up with the war in Iraq and the whole mid-east in general. I don't get the feeling that they are ready to take that out on the Republicans, though. The democrats are so inept and silly-looking; I just don't think they're ready for prime time yet, or anything close to it.