She has to hope for big wins in the big states (NY, Cali, and FL, as Obama takes Illinois). Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
Now she's just another contender. And it's obvious the Bill Effect means squat to voters. So all the default momentum has vanished. The relative percentages don't matter - what counts is that she didn't beat Edwards convincingly.
Obama meanwhile has a solid win and a solid PR narrative, which makes him the easy front runner.
Personally that makes me feel rather sick, but that's how it is.