I don't see how it's a toss up when all the Democrats need are the Kerry states + VA, NM, NV.
New Mexico and Nevada are practically freebies at this point. That just leaves Virginia, which is probably one of the most obvious trending states in the country. Even if the national vote shifts 3% toward the GOP from 2012, Virginia would still be winnable.
It's just not a workable map for the Republicans. They NEEEEEED a realignment.
There tend to be large swings in elections.
From 1972 to 1976, the party that won by 23 points lost by two. So a lot of states swing hard.
From 1976 to 1980, the party that won by two lost by 9.8, and that was reflected in the states. Ohio, which Ford narrowly lost by less than a percent, when to Reagan by ten points. North Carolina, which Ford lost by 11 points, went to Reagan by two.
1988 was a good presidential cycle for Republicans, but Bush lost a lot of ground from Reagan's reelection. Reagan won Wisconsin by nine points. Bush lost it by 3.62.
Bush loses Wisconsin by half a point in 2004. Obama wins it by nearly 14 points in 2008. Bush wins Indiana by 20 points in 2004. Obama wins it in 2008.
States that got by more than ten points to a party aren't guaranteed for that party in the next cycle.