If Nevada and New Hampshire switch, then the election turns out 269-269. If this happens, then the election is decided in the House of Representatives. There, each state delegation votes. If there is a tie in the delegation, that state's vote is not counted. A candidate needs a majority, or 26 votes, to win.
As it stands now, Bush would have 24 votes, 4 would be thrown out, and Kerry would get the rest. That could all change depending on the elections (e.g., New Mexico could switch against Bush if Romero beats Wilson, and Texas could switch from Tie to Bush). In other words, it's very possible that in the case of an electoral tie, no president is selected.
Meanwhile, the Senate will be voting for a Vice President. If the Democrats retake the Senate, that means Edwards is confirmed as Vice President. Here's where it gets goofy.
According to the Constitution,
"And if the House of Representatives shall not choose a President whenever the right of choice shall devolve upon them, before the fourth day of March next following, then the Vice-President shall act as President".
That's right--if it's a 50-50 Senate, then Dick Cheney votes himself in as President. If the Dems retake the Senate, then we're looking at President John Edwards. Government Teachers everywhere would cream their pants.
Now take the ALCS Poll!