Alan Abramowitz, an Emory Poli Sci Professor, created a statistical model a few years ago that helps translate the final Gallup Poll results on the generic ballot into seats.
The Abramowitz model uses the final Gallup result for the generic House Ballot, the number of seats held by the Democratic Party and the party of the current President to project the number of House seats won with reasonable accuracy.
When applied to the midterm elections between 1950 and 2006, it has predicted the outcome with a standard error of 5 seats.
Applied to 2010, the Abramowitz model shows that a "dead-even" contest between the Republicans and Democrats on the generic ballot just before the election will translate into a 32-seat Republican gain.
To pick up the 40 seats necessary to win the House, the Republicans would need only a lead of at least 3 percentage points on the final Gallup Poll.
If the Republican margin is 7 or 8 percentage points, the Republicans would see something like the 54 seats they won in 1994.
As of yesterday, the generic ballot shows the Republicans with a 53-42 advantage based upon a high turnout, and the Republicans with a 56-39 advantage on a low turnout.
This means a Republican pickup of about 60-65 seats in the House.
On the night of November 2, 2010, its going to be fun to watch Pelosi's surrender, the ranting, raving, and foaming at the mouth of Keith Olbermann and Rachel Madcow, and the end of the Obama Congressional Railroad.