If we don't have a really strong candidate, the economy hits a rough spot in 2008, the War on Terror wasn't front and center, and immigration continues to be a key issue, she could win. It would only take a few percentage points swing from the last two elections, in which the 'Rats have had lousy candidates both times.
Four years is a long time in American politics. The substantial majority of voters will have long since forgotten her Marxist ways. And the main stream media sure won't go out of their way to remind them. Did you see where she's even trying to pass herself off as an Evangelical Christian? Maybe that ruse won't stick with many, but she won't stop her incessant quest for themes that will stick.
It would be tragic historic irony if she gained power on an (illegal) immigrant bashing theme, similar in tone to Hitler's Jew bashing.
Rush was wrong when he said she wouldn't run for the Senate. He was wrong again when he said she couldn't win. She won by a landslide. She lacks Bubba's folksy style, but she more than makes up for that with far greater discipline and ruthless determination.
Beware.