Joe Biden will be replaced by his longtime Chief-of-Staff Ted Kaufman. Net effect: absolutely none. Kaufman curiously noted that he's "OK with retiring in two years" which will do little to calm talk of Biden's Iraq veteran son replacing him in 2010.
Obama's replacement will come down to Jan Schakowsky, Luis Gutierrez, or Danny Davis, three House veterans who will blow away whatever dipshit the GOP finds to oppose them. Insert your own "a Jew, a Latino, and a black guy walk into the governor's office" joke here.
Coleman-Franken drags on and will drag itself right into court sooner or later. Bank on it.