Most likely Scenario now:
Obama takes Nevada because of the Early Vote Advantage/Harry Reid Machine and Palin takes Wisconsin and Iowa.
269-269 here we come
Then Palin gets elected by the house and Biden remains VP. That would be awkward!
It would be but I can't envision how Palin gets Nevada. Wisconsin I can see going to her because of Tommy Thompson's Race already being called and Iowa usually doesn't vote to the left of WI.
Big Irony for Obama: Iowa sort of made him President and now he could lose the State making Palin President.