I suspect not. Cheney had significant health problems. It is entire possible that the pressure of becoming President will trigger a heart attack. Even if it doesn't kill him, which is a distinct possibility, it may force him to resign.
It's ten years later and he is still chugging along.
Biggest policy difference is his support of gay marriage.
in 2005 his approval ratings were still higher than his disapproval ratings.
By 2008, the war is going to be unpopular, and he is going to be running on it, if he chooses to run.
If he does not run, the GOP would almost certainly go with his VP.