I don't think either will be running in 2008. Rudy will just be getting used to the perks of his new senate seat while Hillary is sulking in her forced retirement.
If Hillary does manage to survive reelection to the Senate, I would love to see a Hillary Clinton vs. Condoleeza Rice campaign. Would that not be an entertaining race. I think Condi would win a landslide.
No landslide. Turnout in the south would be SUPERLOW unless a Roy Moore emerged, then we would be looking at no electoral majority.
That's why she'd have to put a good old boy on the ticket. Roy Moore would help. Jeb Bush would be a good VP pick. Chambliss would be another good pick.
But I think you underestimate southern voters when you say turnout would be really low. There would be some who wouldn't be that excited at the prospect of a Rice presidency, but they might be motivated to go out and vote against Hillary Clinton. Don't underestimate the level of animosity that a lot of Americans have for that woman.