I think Powell could have probably won. Although, I'd suggest the ramifications of a Powell presidency is that the politics of today, in the ATL (2013) are pretty unrecognizable to us today. To say the least, I think the combination of issue searching and politics would mean the Republican Party and Democratic Party of today drew slightly different constiuencies.
Off the top of my head, I'd imagine a we'd have a somewhat more liberal Republican Party today, and a somewhat more conservative Democratic Party....
So, I think the real ramifications might be that hyper-partisanship we experience today might have been delayed a generation, with Powell.
How that plays out economically, and geo-politically, or even politically, I can only begin to suggests.