I'm still thinking a lot about the possible ramifications of a McCain run for the presidency.
The first thing that comes to mind would be a cautionary nod to Democrats. Its becoming more and more likely, imho, that we may be witnessing the early rumbling of the eventual implosion of the Bush administration. Most liberals will logically assume that this will favor them in the next election--and they may ultimately be right. However, its important to really understand what exactly will be the collateral damage of such an implosion.
The most recent example of such an implosion would, of course, be the Nixon administration. When Nixon went down, he actually set up Ronald Reagan's eventual ascendency. Nixon was more or less a continuance of the big government approach to the governance which had been in play for over forty years. Than came Vietnam and the New Left and, finally, Watergate, all of which ended up not so much discrediting Rupublicans--at least not for long anyway--but instead, activist government. Reagan's triumph was made ideologically possible by Nixon's collapse.
When a presidency implodes, wild forces are unleased which are highly unpredictable. Where will the leftovers of the Bush coalition land? Will there be a resulting disillusionment with radical conservatism? This would of course be a good thing, but would that mean Liberals reap the benefits or would a moderate like McCain gain a great deal of power from it--especially being moderately pro-life?