Let's go back to 1997 again and ask people who would be the frontrunners in 2008. How many would say:
-An uninteresting backbench Senator from Tennessee just elected to his first full term.
Back in 1997, there was already a lot of speculation that Thompson might run in 2000 (though of course no one was thinking about 2008 yet). In fact, if Lamar Alexander, hadn't run, there's a good chance Thompson would have.
As I mentioned way back in this thread, there's nothing the least bit weird about speculating about two presidents down the line. Whoever's selected to run as VP next year (just ~10 months from now) for either party has a decent shot at being the 45th president. The 45th president might also be whoever runs for the opposition party in 2012, and we can already guess who some of the 2012 candidates might be (as someone in 2003 might have guessed that folks like Clinton, Edwards, and McCain would be running in 2008).
Predicting three presidents out is of course much harder. But even there, you can *sometimes* guess who some of the contenders might be. As I mentioned earlier, GHW Bush had served in many different jobs in the Nixon/Ford administrations, and was considered as a possibility for Ford's running mate in 1976, and he was still relatively young back then, so someone might have guessed that he'd be a possibility for a future president way back then. And Reagan would certainly have been considered as a possible future president back when he was governor of CA during the Nixon administration.
Obviously, there are many more future contenders who we can't predict, and it's unlikely that any of us will get it exactly right, but this thread is all in good fun, so I don't see what the big deal is.