Who’s hot? Who’s not? Who’s personal life just keeps getting more interesting, and who can’t buy media coverage to save their life? The 2008 election may be 18 months away, but the race is in on. We’ve assessed the Democratic candidates and now, for the first time, we’re moving on to the even more wide open GOP field…

1. Rudy Giuliani, former New York City Mayor

The negative stories are beginning to flow, ladies and gentlemen, but his numbers stay high. Either the public simply doesn’t care about Rudy’s… shall we say, interesting personal life or they’re not paying attention.

One thing’s for sure: Every week Rudy Giuliani maintains a huge lead on John McCain makes it seem like a victory is a given and makes it tougher for anyone else to raise money against him. When’s he going to Iowa, though? Shouldn’t someone at his campaign HQ get on that?

2. John McCain, Arizona Senator

John McCain has a long way to go (though his NCAA picks weren’t as bad as we predicted). Something about his efforts so far seems forced, uninspiring. Of course, he’s still much more of an establishment candidate than the guy ahead of him, even if the GOP base is bored with him (the 2003 version of McCain would be a lock today). Still, he has a lot of things going for him, and a strong first debate effort against Giuliani could close the current gap considerably.

3. Mitt Romney, former Massachusetts Governor

The Mitt Romney campaign is somewhat of an enigma. Raising tons of money, scoring allies all over the place to back him, yet not gaining much in the way of traction among mainstream GOP voters. It all comes down to whether he can win New Hampshire and make it to February 5.

4. Tommy Thompson, former Wisconsin Governor

The man’s strategy is a good one. Focus all efforts on Iowa and try to win that first caucus, becoming the popular, mid-American alternative to the three frontrunners. Hey, it’s good enough for fourth in our rankings - but can he raise enough cash to make it happen? That;s another story.

5. Fred Dalton Thompson, former Tennessee Senator

Not sure what it says about the rest of the folks in this race that Fred Thompson merely mulling a run has him comfortably in contention for the Republican nomination. There’s already a sizable movement to draft him (see below). We still think an all-Law & Order, Sam Waterston-Thompson ticket would be tough to beat.

6. Sam Brownback, Kansas Senator

Any talk about Fred Thompson or Newt Gingrich kills Sam Brownback. Not that we’re complaining. With this twit, less is more. And with another Thompson (Tommy) now going full-bore in Iowa as well, the Brownback campaign could come to a screeching halt really fast.

7. Duncan Hunter, California Congressman

An enormously popular U.S. Representative who has served California’s 52nd district with distinction for 26 years. That will be it, though. He just can’t get traction in this race.

8. Mike Huckabee, former Arkansas Governor

A decent guy having trouble getting noticed in a large field. Guess America isn’t ready for another Arkansas governor (from Hope, believe it or not) in the White House. Either that or America just doesn’t heart Huckabees. Too much? Okay, sorry. Moving on.

9. Jim Gilmore, former Virginia Governor

We’re guessing his days are numbered. A hunch.

10. Tom Tancredo, Colorado Congressman

No matter how much it riles up some Republicans, immigration alone isn’t enough of an issue to get you noticed in a national campaign.

11. Ron Paul, Texas Congressman

Two first names. Always the kiss of death. That and never having renounced one’s membership in the Libertarian Party.

UNRANKED: Newt Gingrich, Chuck Hagel (although a sudden entry into the race from either means a berth in our top five).

We’re well aware of how crowded the field of 2008 Democratic candidates is. What’s amazing is that in the coming months, a growing list of Republican hopefuls may put it to shame.

The fact that the 2008 election is shaping up as the most wide-open race in almost a century has everybody crawling out of the woodwork and clamoring for attention.

Among those who may decide on a White House bid is Nebraska Sen. Chuck Hagel, although he said at a news conference today that he is putting off his decision on his political future until later this year so he can focus on the war in Iraq (which he stands opposed to) and other pressing issues before Congress.

Many expected Hagel to announce his bid today. But Hagel said he could still join the field later in the year, stating:

“I admire [each candidate] for their willingness to put themselves on the line and pursue their beliefs and ideals. I believe the political currents in America are more unpredictable today than at any time in modern history.”

Hagel is one of the most aggressive Republican critics of George W. Bush’s handling of the war in Iraq, a quagmire that has meant the downfall of the administration in some respects, and is hampering the candidacy of one-time 2008 front-runner John McCain, a staunch supporter of the invasion.

In addition to Hagel, former Tennessee Senator and current Law & Order star Fred Thompson is considering a presidential run next year.

Thompson (pictured above) told Fox News that he is leaving the door open to joining the Republican presidential field later in the year.

“I’m going to wait and see how it pans out, how they do, how it develops. A lot of people think it is late already. I do not really think it is, although the rules of the game have changed somewhat,” he said.

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