I think the most disappointing thing about McCain as president is that Americans are possibly THAT stupid
The reason is that most of the problems have not affected middle class Americans, who are the bulk of the votes.
The war is not real to them; they probably will never have a son or daughter enlist. They may know of a cousin or a nephew somewhere who is stationed in Iraq but they have no immediate family so it doesn't register much in their minds. There are some suburban communities where there are absolutely no citizens who are in the military.
The debt is not real to them. They think America is still #1 (in what, who knows) and that the $9 trillion debt doesn't mean shit. After all, they can still buy that new Bravia so why the fuck would they care about national debt? Times may be getting tighter but many middle class Americans are still able to buy a lot of shit and not have to worry if their job is getting shipped overseas or just being cut altogether.
Most middle class Americans don't give a fuck about civil liberties either. They never cared to use them before so they have no objections giving them up.
In short, McCain is doing well because Bush is looked at as a failure but that doesn't mean Americans are ready for an Obama. They want a Republican who will still lie to them but will pull them out of the Iraq jam but not so Rush Limbaugh and Pat Robertson will bitch about it afterwards. This is prime Obama time and he is struggling. His lead gap is narrowing and will probably be gone in 2-3 weeks. Then you have the debates which might put them neck and neck again but neck and neck is not good enough to secure a victory.