I'll say now what people who know me have heard me say from the beginning: there is no way Hillary can win the presidency as a Democrat. The Democratic Party leaders want her, but the people who call themselves Democrat all across the fruited plains have come out swinging for Obama (I'm looking at the delegate counts to say this).
Here's what will happen, knowing the Democrats and their race-baiting ways. Hillary won't make up the difference in time, and the delegate count will point clearly (as it does now) for Obama. Superdelegates, however, will basically ignore the results and vote her in anyway. This will trigger a race riot like nothing the world has ever seen. The battle will boil down to the Democratic leaders vs. the Democratic proletariate. BHO (which, by the way, is also an acronym for a particularly nasty form of spyware - Browser Helper add-On) gets to play the race card no matter what, and this will keep things quite interesting because no matter what Pantsuit suggests or says or does, the perception that racists are running the Democratic Party will be unavoidable.
Bottom line: if they choose Pantsuit over Spyware, the Democrats will not win the election because the Obambies will find a way to skew the results for another candidate (doubtful it will be McCain but no matter). Be it Nader, Paul, or one of the multitude of third-party candidates, they will divide themselves up.
If they choose Spyware over Pantsuit, the Pantsuiters will inevitably see how incredibly weak-willed Democratic Party leadership is and switch their support to either McCain or again, a third-party candidate. I see them switching to McCain in large part because A) he's been soft on her, and B) they have somewhat similar views on a lot of the issues.
Either way, Mac gets to sit back and comfortably watch the Democrats destroy each other, resulting in a Republican victory. It's just a question of how big.