Their is absolutely no chance of a Conservative/LibDem coalition working.
They are miles apart on policy - if they do a deal it will lead to another election before the end of the year.
The tories have been rejected quite comprehensively in Scotland and Wales - both these areas are labour strong holds. How can the tories say they have a "stable government for all" in such circumstances.
Also - read Nick Clegg's words very carefully - he says the tories should have first attempt at forming a government - that does not mean a deal will be done.
Whatever happens - Gordon brown is finished. If their is indeed a second election Labour will have a new leader.