Everybody's buzzing about this BeliefNet interview in which consummate Religious Right PR flack Mark DeMoss declares that Obama could take nearly half the Evangelical vote this fall.
Steve Benen thinks he can; David Brody thinks he could, especially if McCain continues to do a lousy job of talking about his faith. And so it goes.
I'm of two minds about this. On the one hand, DeMoss is quite right. If Bill "Big Dog" Clinton can draw 33% of the Evangelical vote, Obama could probably top 40. Here's why:

Obama kills in that 18-29 demographic, Evangelical or not. And look who's got the highest percentage of any of the Protestant traditions - blacks. He's going to take 90% of the black vote at least, and that alone could push him over the 40% mark of Evangelicals. In fact, it could be the difference between Obama winning or losing the overall Protestant vote:

On the other hand, this is all a far-from-done deal. He's facing some powerful institutional opposition among Evangelicals, for one thing. And upon closer inspection, those the "new" evangelical kids turn out to look just like the old ones:
Liberal evangelicals say the difference in approach and priorities among younger evangelicals signals a shift in their political allegiances, too. Surveys, so far, give a murkier picture.
A report last year by the Pew Research Center for the People and the Press indicated that in 2001, 55 percent of white evangelicals ages 18 to 29 identified themselves as Republican, far more than in the broader population. In 2007, 40 percent did. But a more recent Pew poll only of registered voters found that 60 percent of young white evangelicals identified themselves as Republican or leaning Republican, the same as all white evangelicals.
“This is the most pro-life generation I’ve seen,” said John Mark Reynolds, professor of philosophy at the evangelical Biola University in La Mirada, Calif. “I don’t have any evidence that being green is going to trump pro-life issues in the voting booth.”
And of course, the old folks are considerably more difficult terrain for Obama. Bush got 78% of the white Evangelical vote in 2004. Those folks may not like McCain much at all, but that's still a mighty high climb-down.
Even still, if you do the math, holding Bush's margin among white Evangelicals translates to just less than 60% of the total Evangelical vote. So can Obama break 40%? Absolutely, as long as he brings out young blacks, Latinos, and a few sympathetic white Evangelicals. I have every confidence that he'll be able to do that.
The real question, it seems to me, will be how far past 40% he goes. With the right combination of turnout and realignment, he could slide toward 45%. Anything past that would be a blowout of Biblical proportions, if you'll excuse the phrase.
But be very suspicious of the people who will inevitably spin Obama's inroads as the result of a "new Democratic attitude toward faith" or a willingness to fudge on social issues or the "new evangelical agenda." None of those things is true. If Obama makes significant headway among Evangelicals, it'll be a simple matter of demographics. The more diverse this nation becomes, the better it is for Democrats, and the worse it is for the small regional party based in the South.