Actually, I continue to believe that she should stay in the race for several reasons, even though I am completely convinced that she will not win the nomination.
1. Showing that the Democratic Party is a true testament to democracy by allowing all states their chance to vote. There are only five states and one territory left to vote, and only one month more of this primary campaign. I think it would be a travesty if we didn't, at this point, allow the race to go on and give all Democrats in all states a say in this election. This is a great thing for the party to showcase to the country.
2. It doesn't allow McCain the opportunity to get his name out there in a big way. As the race continues, the media continues to focus almost entirely on the Democrats. This is a good thing for the party, as it creates an enormous amount of name recognition. Any negative name recognition can be fixed after June, but at least the nominee will be known to everyone.
3. The potential embarrassment Obama would face if Clinton dropped out and ended up winning in one of the remaining primary states anyway. This has happened before, to Bill Clinton in 1992 in fact. After his main rival--Sen. Tsongas--backed out of the race, Clinton was expected to cruise to victory; however, he ended up losing to a lesser rival--Gov. Brown of California--in Connecticut. It was a huge embarrassment. Clinton's continued presence in the campaign ensures that Obama will not be embarrassed in the way that McCain is being embarrassed right now, since voters in Republican primaries continue to register some major numbers for candidates like Huckabee, even though he dropped out.
I think that the gnashing of teeth on the part of Democrats is incredibly overstated and we in the party all just need to calm down a bit. There was an excellent piece in Glenn Greenwald's column
from Salon.com about how Democrats need to stop worrying so much about the media echo chamber that is being created by right wingers who have no honest intentions of helping out the Democratic party.