What happens next?
Obama wins, a new golden age begins, ice cream and ponies for everyone!
Obama wins, not that much changes, mass disappointment
Obama wins, is assassinated, President Biden inaugurated
Obama wins, is assassinated, reports of rioting, martial law, Dominionist/fascist coup
McCain wins, amongst allegations of massive fraud
The good news in terms of the legislature I guess is that there's likely to be a rout for the Republicans in the senate and congress over this and the mid-terms in 2010, we'll see how that turns out.
I think it's a case of the Lincoln maxim proving itself yet again.