The Republicans, finally, reward John McCain with the Presidential nomination. McCain wins a hard fought nomination battle with the other major contenders, George Allen, Mitt Romney, and Rudy Giuliani.
McCain picks rival George Allen for Vice President. Allen is perceived by much of the country as Presidential material, this pick goes the furthest in uniting the party, and the choice of Allen pleases the conservative Republican base.
The Democrats opt for the only previously successful formula they have had for electing a President in a generation, choosing a southern Governor, Mark Warner. Warner impresses Democratic primary voters, and is seen as new and refreshing. Warner defeats the other major rivals for the nomination, Hillary Clinton, Russ Feingold, and Evan Bayh. Clinton fades during the primary campaign season, as many voters are turned off by her shrillness.
Warner picks rival Russ Feingold for Vice President. Feingold is charismatic and a strong campaigner, and is liberal enough to appeal to the Democratic liberal base, and to act as a balance to Warner's more moderate image.
Republican
John McCain (AZ)/George Allen (VA)
Democrat
Mark Warner (VA)/Russ Feingold (WI)
^^^^^^^^^^
I agree with this scenario.