As it stands right now, no Democrats appear to have a chance against President Bush, but the election isn't being held in the next few days.
In 1992, the top challengers appeared to be Mario Cuomo and Paul Tsongas. Of course, the "distinguished" Gov. of Arkansas charged to the front and went on to win the nomination and the Presidential election.
Certain things will have to happen for another upset like in 1992, but it can happen.
Many Americans are questioning the honesty of the administration based on doubts about the validity of claims of WMD. The ecomony still isn't great, so if the Democrats could organize (I know....a big IF) one of the challengers could actually have a chance.
Too many if's to think it's likely, but there's still a year to go--things could change.
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