McCain could win, but he won't.
The primary turnout shows that Democrats are way more excited about this election than Republicans.
A clear majority of voters are against the Iraq War.
Unlike 2004, where Kerry had to battle upstream, Obama has the wind at his back and McCain doesn't.
However, if the race goes down to the superdelegates, there could be low turnout on the losing side(Hillary or Obama) and that could throw the election. That doesn't Republican turnout won't be lower too this time around, since they don't have a huge reason to be excited. But this is an election where hastily calling a winner too early would be foolish.