If it weren't for her husband, Hillary could have been out of the race already. Bill Clinton was the only President that could have genuinely won 3 terms if he were allowed! Al Gore can blame Florida etc, but he lost because he wanted to cut all ties with him.
With Bill as her mentor and coach, some of his huge popularity with the voters and (still) with the superdelegates (2:1 in her favour) who are most likely to swing it, she's still in it with a shot. Nothing personally against him, but Obama makes good speeches about Iraq and the climate, however what is he going to do about the economy, by far the biggest issue for the US electorate. Nothing concrete said yet. Also he seems to shy away from debates, whereas she thrives in confrontation. Rubbishing the war (when it seems to finally have had some positive results) is not going to make him popular, given that something like 20% of the electorate has someone in the military or the defence industry. I think even he wins for the Democrats, he is perceived as too far to the left for the mainstream American voter that he will not ultimately succeed. Another Dukakis in the making.