Strategists for both John McCain and Barack Obama are chewing over a hypothetical scenario wherein Barack Obama recieves millions more votes than John McCain, but, because of the distribution of votes in the electoral college, McCain would become the president. Shades of 2000, of course. The momentum to abolish the electoral college has abated in mainstream debates, and the Democratic Party, not wanting to look like sore-winner-losers, never took up the cause even though Al Gore received more votes than George W. Bush.
One Republican who has advised the McCain campaign thinks the country "can stand that sort of thing once every 100 years, but not twice in 8 years—especially with the Republicans winning every time."
Read the whole thing. It's a scenario that I have been thinking about in my head for a couple of weeks, looks like I'm not the only one. I wouldn't say that it is a likely outcome but I think it's certainly a very plausible outcome.