Ford really has impressed me over the last year. I can't say I agreed with Mulally's immediate fire-sale (Aston Martin in great shape...Jaguar finally coming out with a desirable set of cars, etc), but the timing now appears visionary along with the massive line of credit they took out just before the shit hit the fan.
To top it off, Ford has some fantastic products around the globe (especially in Europe) and has really done an amazing job catching up with the Japanese in reliability. Now some fantastic products are being introduced here in the states (I'm quite impressed with the new Fusion...the old one was way underrated...but this one really has the marbles to become a hot seller). If Ford can just limit cash burn through until the economy starts looking up...I really think they'll really come out of this smelling like roses.
GM has some really fantastic products these days...unfortunately (with the exception of the Malibu and the Acadia/Traverse), few of them are mainstream or appeal to the mainstream buyer. If GM can manage to pear down their product lines to something similar to Ford (maybe just Chevy, GMC/Buick, Cadillac) and really deliver on the Cruze, Spark, Volt...I think they will see the light at the end of the tunnel...it just won't be pretty getting there.
Chrysler just seems hopeless.