Politico interviewed a bunch of top Republican strategists, who believe that John McCain might just be the man to deliver a significant upset this November.
The article explains:
But the contours of the electoral map, combined with McCain’s unique strengths and the nature of Obama’s possible vulnerabilities, have led to a cautious and muted optimism that McCain could actually surpass Bush’s 35-electoral-vote victory in 2004. Though they expect he would finish far closer to Obama in the popular vote, the thinking is that he could win by as many 50 electoral votes.
The strategists admit that a President McCain probably wouldn't have a Republican majority in Congress to work with, as the parties Congressional prospects are pretty dire. But, that might not lead to a national stand-still, since McCain has worked with many Democratic colleagues during his tenure.
The consulted strategists credit McCain's strengths and some of Obama's weakness, for example: McCain’s strength among independents and "Obama’s weakness in culture, ideology and association." They think McCain's reputation transcends the bruised Republican brand.
From where you're sitting, how likely does a McCain blowout look?