McCain is lucky he still has a job at all, much less being 'President'.
The only reason he was ever nominated by the RNC at all was as a fall guy to get Obama elected, and he did it well. It was McCain himself who banned saying Obama's name because it was 'too Muslim'. It was McCain himself who threw water on the Palin surge and basically hamstrung and gagged her the entire campaign. It was McCain who continually said fawning and glowing things about how great Obama is at his own rallies. (I witnessed this and it was bizarre)
McCain said more negative things about Palin and his own supporters than he ever did Obama. McCain was never a serious 'Republican' candidate and had more Liberal and Democrat supporters than Republican supporters. Of the actual Republicans who voted for him, he was the default 'not Obama' vote, and that is all.
He really is in the wrong party. He gets along so much better with his fellow Liberal leftists than he does with Republicans, except for a handful who are the same as him.
Now, the 'not Obama' candidate, the Obama 'fall guy' candidate, lets it go to his head and actually thinks he was selected based on his qualifications. The only reason the GOP went with McCain, is because they are idiots, (that's a given) and they wanted the most absurdly 'far left' guy who still at least claims to be a Republican, to go up against Obama. So we wound up with a choice between a avowed Communist, or a 'not Obama' Left-wing shill.
He may run again. But if he does it will be as a Liberal Democrat, or in his own Far Left Loony Party. I think it is much more likely that McCain will work as a campaign manager for Obama, when Obama runs for his third term. And I am only half joking. The way McCain fawns over Obama is not natural. He loves him.