Jeb has stayed out of the race, seemingly taking the high road.
Later this year, Cheney bows out as VP. GW nominates his "non-running" brother to replace Cheney, claiming he doesn't want to unduly influence '08 nomination process (more high road B.S).
'Draft Jeb' movement magically materializes (more high road B.S.). And one of the current front runners stumbles and, angling for the '08 V.P. slot, endorses Jeb. Jeb 'heeds the call' late in the process and win the Republican nom.
P.S. I'm intrigued by a Hagel/Powell ticket. Would that be something for Dems to fear?
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