I personally hope the democratic party will not select Hilary Clinton as its candidate, because so much of the country doesn't trust or like her and it seems a shame to act as if there are not other strong (even female) candidates in the country, and to further alienate younger democrats who already seem to oppose the idea and are wondering why they can't influence their party. I don't know about Barak Obama's chances of winning, either. He seems like a sharp guy but also relatively young and unproven compared to some.
The Iraq war is clearly going to be a big issue in the next presidential election, as is the general question of how to reduce terrorism. If you could set those two issues aside, what would you want in an American president for 2008?