Barring the Dems splintering up & not uniting behind one person, she'll likely win the Dem nomination-- no one on that side can raise even a fraction of the money & ratings that she can...
and on the opposing side, Giuliani should emerge as particularly adept at debunking all her spin: between his law background & NY residency, he should be able to dissect both her legal involvement in her husband's political & business shenanigans;
and more importantly her mediocre & useless work in Congress. He more than any other Republican should appeal to middle of the road voters-- for all this talk about values & conservatism having won this election, it's always been whoever's been best able to communicate on a personal level w/ John Q. Public, to basically make him/her believe,"I am more than capable of solving any problem that comes up, I will always strive to do the right thing, and when I speak you can take what i say to the bank."
Specific issues are not as important as the persona-- they gain importance to the degree candidates are evenly adept, or mediocre-- in communicating with the average American.
Giuliani proved all of this when stumping for Bush in the recent election: he far, far outdrew in both contributions & ratings all other Republicans, including the President himself. Anywhere he showed up, at any odd hour whatsoever, he would attract the public & press like a rock star: he speaks for hours off the cuff instead of reading from a script, and when he's done, audiences tend to surge forward & want to engulf him.
Something else he'll have working in his favor in 4 years is the budget deficit: he conquered the monstrous deficit & near bankruptcy in NYC. He just has a proven track record no one can match: most state & city agencies in NYC, be they administrative, social, justice or law enforcement, were their own little fiefdoms, legally answerable to no one, be it Governor or Mayor; yet he reined them all in & took the city from the edge of bankruptcy & leading the nation in crime to the total opposite: triple A bond ratings & lowest crime rate. He instituted personal responsibility & accountability at all levels of government & was able to improve all major economic & infrastructural indicators & crime statistics from year to year for 8 years running....
He's likely the next President-- barring retirement or health issues.