IMHO, from studying history. Nazi victory was far FAR too close for comfort. Most people will probably not realize just how close it was, because it would be so unsettling for people to understand just how close we came to the abyss.
Me personally, I'm such a jolly guy with a sunny outlook on life
that I am willing to face just how close we came.
Some minor POD's that would have resulted in an Axis victory.
Germany settles for a Brest-Livotsk type 2 in 1941-42 winter
Impossible without a military coup that would totally redefine Nazi Germany. Such a coup in and of itself is in fact extremely unlikely without the Germans doing considerably worse with Barbarossa.
or
Mussolini takes the advice of his generals and instead of going for a large crap army, goes for a smaller but still large German style efficient army.
Contrary to popular belief, the Italians weren't prone to bungling everything they laid their hands on-that was largely British propaganda stemming from a single incident. As said, the Heer wasn't efficient at all (another myth; 500 truck models) and anyway the Italians didn't lose in North Africa because of poor troop quality. They lost because of logistics.
or
Stalin loses his marbles entirely not just temporarily in 41
...Thus opening the door for a suitable personage (Molotov, Beria, etc) to take the reins temporarily and use the crsis to bat down opposition.
or
Finland goes all out in continuation war and occupies Leningrad and deploys everything they have.
This is hardly a "minor" PoD. Even assuming that losing Leningrad would cause the Soviets to magically sue for peace, the Finns had very specific reasons for not attacking Leningrad-they had got what they wanted. They were shaky, unofficial allies with the Germans OTL, and Mannerheim (along with Franco among the most sensible dictators of the period) had no desire to waste thousands of lives on a prize that would go to the Germans anyway.
or
BOB is done with missiles instead of airplanes.
...I'm not even gonna address this one.
or
The Atlantic War is given SERIOUS effort by the Germans.
Maybe you've read some source I haven't, but I was under the impression that Germany was constantly researching new U-Boat designs and was building new ones, and that the commanding officers at a beaurocratic and command level were competent and motivated. Anyway, once the US joins in, the Uboatwaffe is doomed.
or
The Axis powers have serious long term co-oordination and strike Su at the same time in a coordinated strike.
Errrr...they did strike at the same time in OTL.
or
Germany decides to eliminate the E-European inferiors after the war is over, not during the war.
Again, requires moderation of the Nazis impossible with the OTL setup. Anyway, that wouldn't have changed the war particularily much; the Germans would still treat the locals like crap, and the support the Nazis had early in Barbarossa has been blown vastly out of proportion.
or
Italy welcomes more or all of the Jews fleeing Germany, gives them full citizenship and all rights and permits, encourages settling in Libya.
...Which means a non-Axis Libya.
or
Mussolini realizes that politics is one thing and administration is another and looks for the best and the brightest Italian administrators regardless of race or religion to boost Italy. Such as Guido Jung.
Again, requires non-Axis Italy.
or
Germany gives Vichy France incremental control over all of France except alsac-lorraine and signs a peace with France before mid 1941.
...I don't quite follow. Vichy would be a German puppet in any event; and they were at peace with Germany in 1940 OTL. If you mena the Fre French, the entire raison d'entre of the state was to fight the Germans; a peace with them for no reason when they aren't even threatened would be idiotic.
or
Germany decides to standardize equipment before Barbarossa
Thus throwing the whole Whermacht into disarray and delaying Barbarossa until the Soviets are able to take the invasion and throw it back to Moscow?
or
Germany realises that occupying SU will take more than 3 months and prepares for it by inviting Finnish winter soldiers to teach German units proper winter warfare techniques, including saunas and korsus.
The whole general winter thing is again overstated-while cold had something to do with it, the real reason the Germans were thrown back from Moscow OTL were logistics and overstretch.
or
Germany goes into a deep defense during winter, giving up territory in exchange for time.
Again, requires an overhtrow of the Nazi regime.
or
Japan doesn't provoke the US into an all out war until late 42, 41 is spent in a joint attack on SU.
1) Japan was nearly out of oil in December 1941. By late '42 they wouldn't have been able to fight any war at all.
2) The Soviet Far Eastern sector was fully supplied and armed OTL, and any attack would be reported by the large spy ring in Tokyo. The Japanese would be running into a force larger and more effective then their own, which had already beaten them, and which would offer no real gain besides Vladivostock.
or
Axis minors are treated better and given better training and equipment.
By the magically efficient Wermacht?
or
Axis command structure is harmonized to avoid the "minor kingdom" style of overlapping military forces that happened historically.
Again, kinda intrinsic to the whole "Nazi" thing.
or
... Well you get the gist, i could go on for an hour with these. Most of these alone could make Axis victory very likely. 3-4 together would result in an axis victory with near certainty. But then again, thats just me.