Keep in mind that this was based on a regression model with fairly high error bars.., so take it with a grain of salt (from a guy who was extremely close to calling the presidential election):
With a total of 2,885,555 ballots having been recorded in the initial count, this works out to a projected gain of 242 votes for Franken statewide. Since Norm Coleman led by 215 votes in the initial count, this suggests that Franken will win by 27 votes once the recount process is complete (including specifically the adjudication of all challenged ballots).
The error bars on this regression analysis are fairly high, and so even if you buy my analysis, you should not regard Franken as more than a very slight favorite. Nevertheless, there is good reason to believe that the high rate of ballot challenges is in fact hurting Franken disproportionately, and that once such challenges are resolved, Franken stands to gain ground, perhaps enough to let him overtake Coleman.