Well she actually managed to win a sizeable majority in her primary this year so I guess that's score one for her.
On the other hand she'll be up against Victoria Wulsin again who almost took her down last time. In order for Wulsin to win though she'll need to run up the margin in Hamilton County enough to offset Schmidt's advantage in Clermont county. If you remove the votes from those two counties in 2006 then Schmidt wins by only 400 votes.
One other major factor will be the presidential race. Schmidt's district is very conservative so weak support for McCain might lead to lower Republican turnout. On the other hand, Obama might hurt Wulsin in Scioto and Pike counties which she will need to win again. If Clinton was the nominee Wulsin would probably have a better shot.
One more thing to consider, as of February 13th Wulsin had outraised Schmidt by about $250,000 and had nearly $70,000 more cash on hand. In addition to that, Wulsin reported no debts whereas Schmidt owed $277,150. That's more than twice the approximately $100,000 Schmidt reported as having on hand at the time.
