Moderate Republican with a divided Congress (assuming a Clinton Loss means midterm gains not made, but not assuming a blowout )
He inherents a good economy. No reason to assume that changes.
If he gets a Republican Congress that ends the "gridlock" of the two branches, recent history suggests higher spending.
Less impact of Clinton sex scandals, probably meaning a less discredited NOW/feminist movement. Perhaps that butterflies away Gov. Arnold (because of his minor sex scandals?)
As a former general and a moderate Republican of the GH Bush school might scale back on the foriegn entanglements, since the Cold War is over. But how to respond to Osama's attacks when they happen anyway?
But even if he did pickup Osama would that end the 9-11? I find it likely that Osama has made arrangements that his resources would be at the disposal of Al-quida if something happens to him.
Oh, and he get reelected. Good economy, no big scandals, moderate as hell might lead to primary fight but that never works out, being black gets him a little space form the press (not Obama space of course, but some).
If 9-11 or something of that scale happens on his second term, probably goes for a larger scale, more conventail invasion of Afganistan.
No Iraqi war.
Who's VP?
His VP gets to run, while fighting still going on in Afganistan? COuld that be a win? We're talking lot of republinca rule broken only by one term of Clinton.
Who would his VP be? Who would he be running against?