I don't know if he'll quite make it, but it looks like Gerhard Schroeder (or at least his Red-Green coalition) made it about 90% out of a political grave.
The BBC is indicating that the CDU-CSU has a very small lead in the German election and that they're running about seven points behind the projections prior to the election. All in all, it seems most likely to me that there will be a Red-Green minority government with the Left Party not joining, but voting for the cabinet. In any event, this is the second time in three years that Gerhard Schroeder has escaped certain political death.
The government with the most potential for genuine action in Germany (given the current results) would likely be a Grand Coalition of CSU-CSU/SDP, but that could also blow up with little accomplished. My prediction is a Red-Green minority government with Schroeder as the chancellor, with new elections in under three years with a new leader for the Social Democrats.