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"If a Democrat is in the White House next year, he's got to be toward the top of the list of people who would be considered for one of the major cabinet positions," said Ken Dautrich, a University of Connecticut public policy professor.
Despite his poor Iowa showing, Dodd's presidential bid probably enhanced his stature among Democrats across the country, according to Dautrich.
"He's solidified his position as a kind of elder in the party, a diehard Democrat," Dautrich said. "He's got to be at the top of the list for one of the senior cabinet positions, just given the way he's conducted himself through this campaign."
Dodd said he is not interested in the vice presidency and does not plan to seek a cabinet position, though he did not entirely rule out accepting one if it were offered. He also said he does not want to be Senate majority leader.
"Being Democratic leader is like trying to keep frogs in a wheelbarrow," he joked.
Secretary of state is a possibility, given Dodd's foreign policy experience, Dautrich said.
Dodd, D-Conn., burnished his image by coming across as experienced and thoughtful, particularly on foreign policy and children's issues, in debates and other campaign events, said veteran Democratic strategist Dan Payne.
"He made us aware that he knows a lot about various issues and he could occasionally strike a posture in debates that was unique and compelling," said Payne.
Dodd had banked heavily on a stronger-than-expected showing in Iowa to propel his longshot campaign into the Jan. 8 New Hampshire primary and the contests beyond. But he failed to score an Iowa breakthrough, struggling against better-known rivals New York Sen. Hillary Rodham Clinton, Illinois Sen. Barack Obama and former North Carolina Sen. John Edwards for attention and support. Dodd finished sixth, with less than 1 percent of the vote, and quickly exited the race.
Over the last year, Dodd ran a mostly positive campaign, said Payne, refraining from the kind of attacks on his rivals that could sour relations with them.
"He did not do any sustained attacks on any of the likely nominees," said Payne. "He's safe if his name comes up for a possible appointment."
Payne and Dautrich doubt that Dodd would be an attractive vice presidential pick, partly because Dodd's New England roots have limited political value, given the region's Democratic tilt. In an election where voters seem to be embracing change, Dodd is more of a throwback, Dautrich said.
"He's a terrific person, but he's an old Democrat and that's not what Democrats are looking for right now," Dautrich said.
In his concession speech Thursday night, Dodd underscored his Democratic loyalties by vowing to work hard for whomever his party nominates.
"I commit to work my heart out for the eventual nominee our party chooses from this very talented field of candidates," Dodd said.
In the meantime, Dodd can expect to be courted for his endorsement by former rivals as the heated Democratic primary contest heads to New Hampshire.
Connecticut Attorney General Richard Blumenthal, the Connecticut chairman of Dodd's presidential campaign, said while Dodd has close, long-standing ties to former President Bill Clinton, he's also been impressed by Obama.
"I think he'll probably wait, but I haven't really talked to him in detail," said Blumenthal, adding that he does not think Dodd will make any endorsement before the New Hampshire primary. "There's a personal relationship for him (with Clinton). At the same time, I think he's impressed by Obama."
During his yearlong campaign, Dodd, 63, cast himself as an experienced leader able to bring people together. He stressed his 26-year career in the Senate, his foreign policy experience and his work on education and children's issues. But his longshot candidacy, overshadowed by the huge campaign accounts and star power of Clinton and Obama, never caught fire.
"It looked to be, right from the beginning, a reach that was about 10 steps too far," Payne said. "People would scratch their heads and say, 'Why is he doing this? If he isn't saying something unique, what's this all about?'"
Dodd, who had temporarily moved his family to Iowa last fall, will return to the Senate where he is a senior member of the Foreign Relations Committee and chairman of the Banking Committee, which oversees the nation's banking, financial services and insurance industries.
Dodd's Washington career began in 1974, when he was elected to the House. He won his Senate seat in 1980 and headed the Democratic National Committee from 1995 to 1996.
Dodd will be up for re-election to his Senate seat in 2010.
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