Although Ted Stevens currently holds a lead of approximately 3,200 votes in ballots counted to date in Alaska's senate contest, there is good reason to believe that the ballots yet to be counted -- the vast majority of which are early and absentee ballots -- will allow Mark Begich to mitigate his disadvantage with Stevens and quite possibly pull ahead of him.
The reasoning behind this is simple: some early ballots have been processed, and among those ballots Begich substantially leads Stevens. A tally of Alaska's 40 house districts as taken from Alaska's Division of Elections webpage suggests that Begich has won about 61% of the early ballots counted so far, as compared with 48% of ballots cast on Election Day itself.
Combining the already-counted votes with our allocation of early, absentee and questioned ballots produces a projected total of 142,174 votes for Mark Begich and 139,258 for Ted Stevens -- a win for the Democrat by approximately 3,000 ballots:
http://www.fivethirtyeight.com/2008/11/uncounted-votes-may-push-begich-past.html