1) If they are underestimating Obama at this point, then they deserve to lose. He just took out the Clintons. That should be warning enough not to underestimate him.
2) I think the alcohol effected your reasoning. He would be batshit crazy to put Edwards on his ticket. I agree that he is tougher than he appears, but this elections are not always about reality, but rather perception. Hillary tried (my opinion) to emasculate him and to an extent I think many people fell for it. For that reason, plus the fact that I think Edwards is a piss poor choice, I still think he takes on Biden.
3) Unless something dramatic happens, this will be a close race. It would be a mistake to underestimate McCains appeal. (the majority of this country is not like this board) Obama would have to sweep all of the swing states to make it even close to looking like a landslide. He currently trails in Michigan, Florida and Ohio. No way will there be a landslide if he loses any one of those, let alone all three.
It didn't affect my reasoning SF. There isn't going to be any Biden, or Sam Nunn on his ticket, so that the pundits can nod sagely and say "now Obama has the gravitas to go up against McCaiin on national security, but...they still have to be careful here, this is John McCain."
If Kerry had not been the 04 nominee, there'd be buzz about him on the ticket because he would bring "credibility". The one thing we always say is, dems never learn. Well, we are seeing this change with Obama. The second he brings in a big dog, he plays right in their narrative. Barack Obama is going to be the big dog. That is what he is doing. He is stepping into McCain every chance he gets on National Security, the thing they say he should avoid and try to get it back to "traditional" Democratic issues like SS and the economy and health care. He is remaking the decades long narrative that the Republicans set down post-Vietnam. He is going to make them eat it.