Bush gets seen by the right like the left sees JFK: A good man who, despite some flaws, was a great President. Considering the worst years of his Presidency will now belong to Cheney, it's likely that most Americans will agree, much like JFK.
On the other hand, Katrina, Foley, Abramoff, and worst years of the Iraqi insurgency, and the ressession will all happen on Cheney's watch. Cheney will end up like a worse LBJ: Derrided, opposed on every front, and seeing his health issues, he may not even survive his full term. Who would ha appoint as VP?
2006 and 2008 are Democratic landslides. When the ressession continues, we may see a Republican resurgance, perhaps led by Jeb Bush, who might run in 2012.