I am calling the Democrat Primary right now - Hillary Clinton has been defeated. Barack Obama has won the Democrat Primary, and in November he will defeat* John McCain.
Recent polls have shown Hillary ahead by double digits in Ohio, and supposedly she is leading in Texas as well. However, for her to win at this point, the super-delegates would have to convene "in a smoke-filled room" and decide to pick Hillary over Obama against the wishes of the majority of Democrats. They would face open revolt if they attempted to do so. If Democrat super-delegates tried to install Hillary as the Democratic nominee, they would be handing McCain the presidency on a silver platter.
Had the situation of a couple of weeks ago persisted, with Hillary having a slight lead, the super delegates might have been able to get away with deciding the primary in Hillary's favor. They would have been able to tout the presumption that Hillary was the front runner anyways, so they had to make a tough but fair call. Now, Obama is clearly the front runner. Even a loss in Ohio and Texas won't change that.
If Hillary truly cared about the Democratic Party, she would exit gracefully and quickly to ensure the Democrats unite behind Obama against McCain. Dragging out the primary only strengthens the hand of the Republicans, who have pragmatically united around their strongest general election candidate. Alas, I think even life-long democrats have seen this election cycle that Hillary doesn't care about the Democrat party, she cares about Hillary. All thats left to see is how gracefully Hillary accepts her defeat. If history is any indication, I suspect that it will not be pretty.
Oh, and the latest numbers from Intrade? Obama - 72%, Hillary - 25%.
*Disclaimer: I could see McCain beating Obama if two things happened. First, the US economy would need to avoid recession, and be booming come election time. Second, Iraq needs to be completely pacified. If the economy is stagnant, or US soldiers are still dying in Iraq, Obama wins by a landslide.