The Republican side is much more complicated because of the confusion and contentious relationships that have emerged in a humbled Republican Party.
The Fiscal Conservatives have started calling Social Conservatives names relating to intolerance. The Social Conservatives continue to splinter among many different candidates, and have not united behind a single candidate as in past elections. The National Security wing of the party is just catching their breath and emerging from behind the rocks after seeing the surge start to work in Iraq. Yet I do think Republicans can win the Presidency.
The polls show anyone in the Republican Party can win right now. However if the Republican Party will stay intact a few candidates will not win.
Rather than predicting a winner at this point I will predict two losers with a few more predictions to follow:
Giuliani will not win the Republican Nomination. He needs social conservatives to win a general election, and even though Pat Robertson endorsed him he will lose. His strategy of not planning to win in the primary season until Florida is a dumb a strategy. He should have at minimum built the foundation in the early primaries that he did not have to win just place a strong third or SOMETHING in a state like New Hampshire. McCain will emerge as the alternative to Giuliani in Florida and states like it.
Dead Fred will also not win the Nomination. I hate to say it but the best part of his run for President was when he was not in the race. I think he is the truest conservative from his voting record in the Senate, but his campaign has been less than inspiring or "Reganesque.