Just came back from dinner with our son's in-laws, and they feel pretty much as I do, that Obama is losing because he's not going on the attack. They also feel that McCain is extremely vulnerable to attack, for pretty much the same reasons that I outlined here and in other threads.
They feel that Joe Biden, as VP, could mount a really vicious and very effective attack on McCain. I agree that Biden's got the savvy and the gravitas to pull it off, but that picking Biden would undercut the message of change that catapulted Obama into the position he now holds. If he hadn't pissed off his base, he could probably have counted on moveon.org coming up with some very hard-hitting and effective attack ads, but even if they come back onboard, they're liable to be dismissed as Soros' sour grapes, lightweight, un-American, etc.
Helluva dilemma for our boy to be in. He might be able to pull himself out by his own bootstraps, but I doubt it. If the decline continues for another week, I think he'll have to call in Joe Biden anyway simply because his "change" message ain't workin no more.