Here are McCain and Obama's chances (according to Intrade's state-by-state numbers) of getting various minimum numbers of electoral votes at 8:39 pm. Still looks terrible for McCain. At this point, the question is probably how much of an Obama landslide are we looking at. Fortunately, I have some numbers about that too. Like a 26.67% chance of 375+ electoral votes, for example.
Each candidate needs at least 270 electoral votes to win outright, and a tie at 269 that throws it into the House isn't impossible.
Obama | McCain
Votes Probability | Votes Probability
255+ 0.9997 | 255+ 0.0049
260+ 0.9994 | 260+ 0.0033
265+ 0.9991 | 265+ 0.0022
266+ 0.9990 | 266+ 0.0020
267+ 0.9989 | 267+ 0.0018
268+ 0.9988 | 268+ 0.0016
269+ 0.9986 | 269+ 0.0015
270+ 0.9985 | 270+ 0.0014
271+ 0.9984 | 271+ 0.0012
272+ 0.9982 | 272+ 0.0011
273+ 0.9980 | 273+ 0.0010
274+ 0.9978 | 274+ 0.0009
275+ 0.9977 | 275+ 0.0008
280+ 0.9964 | 280+ 0.0005
285+ 0.9946 | 285+ 0.0003
290+ 0.9922 | 290+ 0.0002
295+ 0.9888 | 295+ 0.0001
300+ 0.9842 | 300+ 0.0001
305+ 0.9786 | 305+ 0.0000
310+ 0.9705 | 310+ 0.0000
315+ 0.9610 | 315+ 0.0000
320+ 0.9489 | 320+ 0.0000
325+ 0.9323 | 325+ 0.0000
330+ 0.9114 | 330+ 0.0000
335+ 0.8847 | 335+ 0.0000
340+ 0.8478 | 340+ 0.0000
345+ 0.7993 | 345+ 0.0000
350+ 0.7379 | 350+ 0.0000
355+ 0.6593 | 355+ 0.0000
360+ 0.5739 | 360+ 0.0000
365+ 0.4636 | 365+ 0.0000
370+ 0.3607 | 370+ 0.0000
375+ 0.2667 | 375+ 0.0000
380+ 0.1669 | 380+ 0.0000
385+ 0.1007 | 385+ 0.0000
390+ 0.0632 | 390+ 0.0000
395+ 0.0408 | 395+ 0.0000
400+ 0.0279 | 400+ 0.0000
405+ 0.0190 | 405+ 0.0000
410+ 0.0119 | 410+ 0.0000
415+ 0.0069 | 415+ 0.0000
420+ 0.0032 | 420+ 0.0000
425+ 0.0013 | 425+ 0.0000
430+ 0.0005 | 430+ 0.0000