Nixon 492 - Wallace 46
Naturally, of course, Nixon still wins in a landslide.
There's no way that any states outside of the Deep South would give their electoral votes to Wallace, avowed racist & segregationist (even though he was already trying to reform his name by 1972).
Not even 1972's dependable Democratic state, Massachusetts, would've gone for Wallace, & for the first (& likely only) time in history, DC would've gone Republican. There's no way the predominantly African American voters of Washington, D.C. would give their votes to Wallace.
Interestingly enough, the election occurring this way may have had some somewhat important long-term effects as well, since Nixon's "Southern Strategy" & "states rights" ideas would've been much less significant in the face of Wallace.
I might give him Arkansas, but I think mostly you are right. Ironically, Wallace probably would have done better electorally than most, if not all, fellow democrats in 1972. Nixon was just bound to crush it. In a way, it was more of a battle of who would suck the least against him
