If it is between him and Mitt Romney, yes, he will be re-elected. There isn't enough of a difference between them. We have had someone like Romney in the Whitehouse and most people (including a lot of conservatives) didn't like Bush much, even if they won't admit it. I can.
If it is between him and Ron Paul he doesn't have a prayer. Paul actually has a plan. He really is about change and has repeatedly proposed legislation and ideas that would actually show that. And there is a clear difference between Paul and Obama.
I know the media has already all but declare Romney the winner, but Paul has tons of delegates for the GOP national convention so I think it will be closer than the media is predicting it. I am not sure he will win, but I really hope Ron Paul does.