I am nervous about parties that pick a candidate because he doesn't have the negatives of two more plausible candidates. No doubt the Alberta Tories will survive such things, but the federal Liberals have to exist in a multi-party democracy. We know Dion is a political science professor, has a thin skin, makes Stephen Harper seem like a man of the people, is hard to understand in English and has taken positions that annoy the majority of francophones.
But he got this far. And he has a history of being right (unlike Rae or Ignatieff). I am cautiously optimistic, which is the only kind of optimistic anyone should ever be.