Not that it could happen, but hypothetically, how would a "not guilty" verdit impact the races?
Now, that, however, would have a serious impact, IMO. A big negative for the GOP. The whole "was Iraq worth the blood and treasure" issue is already important in this election and Saddam getting the OJ or Michael Jackson treatment would pretty much answer the question for voters in the negative. Bush and the GOP is afraid that the electorate will see the mission of bringing democracy as completely hopeless-- and this would push a lot of people into the completely hopeless camp. It would be like discovering that the new Iraqi government was doing the things that Saddam's regime did that caused us to attack them-- like building WMDs or something. Voters would say, "what's the point?" It would make a lot more people view it as a sad debacle. It would make voters angry like the OJ trial made (white) people angry.
It would really be sort of a tipping point kind of event moreso than one that is of great importance on its own, because it wouldn't have a lot of significance on its own without the other failures.