Here we go, the final standings before the Conclave begins. To read some accounts, Cardinal Ratzinger has it all but sewn up. I'm not so sure. I'm predicting that if Ratzinger does not get a first round knockout (white smoke by noon) then his time may pass, and support move to other contenders.
On the final Leaderboard, we also have a new candidate come in at 10-1, Cardinal Angelo Sodano (The Vatican Secretary of State), and a new candidate come in at 12-1, Cardinal Jose da Cruz Policarpo of Portugal. Their profiles are below.
While the Colossus will accept whatever decision the conclave arrives at, the Colossus would like to endorse Cardinal Dionigi Tettamanzi, Archbishop of Milan, for the position. While we are admirers of Cardinal Ratzinger, we feel that the pope should have a great deal of pastoral experience. Cardinal Ratzinger has been in the Curia for the last twenty years, while Cardinal Tettamanzi has been closer to the people, where, to coin a phrase, "the incense meets the road." He also has the popular touch, and is a warm and charismatic figure. As the co-author of some of the Pope John Paul's writings, he is doctrinally conservative and would maintain the church's strong stands on doctrinal issues.
The Final leaderboard before the conclave:

The profiles of the major Papabili . . .
Cardinal Joseph Ratzinger, head of the Congregation for the Doctrine of the Faith

(Picture Courtesy of Katolsk.no)
Biography available here, at his online fan club (I kid you not). Could Cardinal Ratzinger be the Howard Dean of this election, mobilizing his web-based minions?
The Congregation of the Doctrine of the faith was, in past times, known as the Office if the Inquisition. It's current mission statement:
The congregation, says the "Activity of the Holy See," in conformity with its raison d'etre, promotes in a collegial fashion encounters and initiatives to spread sound doctrine and defend those points of Christian tradition which seem in danger because of new and unacceptable doctrines.
The site says nothing of the soft cushions or comfy chairs, etc., in case you Monty Python fans were curious.
Oddsmakers currently have him at 3-1.
Cardinal Jean-Marie Lustiger, Cardinal-Priest of S. Luigi dei Francesi, Archbishop Emeritus of Paris

(Image courtesy of TheJewishWeek.com)
Career summary here.
Current odds: 9-2.
Profile from The Washington Times here.
Cardinal Lustiger has a very interesting life story. He was born to a Polish Jewish family. Both of his parents died in Auschwitz after being shipped there from France. Impressed with the faith of his adopted parents, he converted at age 14. As the Washington Times article tells it, he gained fame by suggesting that the Church needed to convert France's intellectuals if it was going to have any luck in strengthening its position in France.
He is 78 years old, and therefore a little old for the job. There is some thought that he might fit the Prophecy of St. Malachy, an old legend in the church about the succession of the popes.
Accroding to the St. Malachy theory, the next Pope has as his defining phrase "The Glory of the Olives"; which some take to mean either a Mediterranean (Spanish, Italian, or Greek) background, or perhaps a person of Jewish descent. Lustiger seems to fit the prophecy better than the others.
My own thoughts are that the prophecy of St. Malachy is probably an apocryphal document inappropriately attributed to him. I don't place much stock in it.
Cardinal Carlo Maria Martini, S.J., Archbishop Emeritus of Milan, Cardinal-Priest of S. Cecilia

(Image courtesy of this site)
Career summary here.
Current odds: 5-1.
Martini is considered by some to be a liberal. He favors a permanent synod of bishops, according to this article, which would advise (share power?) with the Pope. This article also mentions that he is willing to reexamine some current church rules.
Cardinal Martini has made news with his openness to the possibility of allowing married Latin-rite priests under certain circumstances, ordaining women as deacons and allowing Communion for some divorced Catholics in subsequent marriages not approved by the church.
Priestly celibacy is a "historical decision which could be changed, but I don't think it will be wise to change the decision but to adapt it to the situation of different people," he said in a 1995 interview with the British Broadcasting Corp.
On women's ordination, he said in 1996 that a future Vatican council of the world's bishops "could consider the problem, rethinking the whole question."
He is a Jesuit, and also known as a Bible scholar. He has been living in retirement in Jerusalem, according to this artice.
There are some who feel that Cardinal Martini may also fill the prophecy of St. Malachy. Glory of the Olives? Martini? Get it? Pretty farfetched, if you ask me.
Cardinal Dionigi Tettamanzi, Archbishop of Milan.

(Image courtesy of Ikue.org)
Career summary here.
Oddsmakers currently have him at 7-1.
While at age 70, he is not a young man, he is younger than many of the other candidates.
Article on him from a conservative Catholic paper, the Wanderer.
Cardinal Francis Arinze, Prefect of Divine Worship and the Discipline of the Sacraments.

(Image courtesy opf Cesnur.org)
Career summary here.
Oddsmakers currently have him at 8-1.
He is two years older than Cardinal Tettamanzi, so at 72 he also would be pretty old. If elected, he would be moving in from the Curia rather than from an Archibshop's post, although he was a bishop/archbishop for almost 40 years.
Although much is made of the fact that he is from Nigeria, he would actually not be the first African pope -- in ancient times, there were three popes who came from Africa.
The The Guardian had an interesting article on him a few years back.
Cardinal Claudio Hummes, Cardinal-Priest of S. Antonio da Padova in Via Merulana, former Archbishop of Sao Paulo, Brazil

(Image courtesy of the BBC)
Career summary here.
There is a summary of a talk he gave, here. Cardinal Hummes is generally seen as one of the more moderate Cardinals from Latin America; while he hails from the "social justice" side of the church, my impression is that he is still liked by conservatives as well. Probably the most electable of the Latin American cardinals.
Current odds are 8-1.
Cardinal Angelo Sodano, Secretary Emeritus of State

(Image courtesy of Ecclesiales.org)
Career Summary here.
Current odds have him at 10-1.
A profile on him from About.com is here. Although Cardinal Sodano is a conservative, he has one major drawback, which is that he is a Curia insider who has never run a diocese. His lack of a pastoral background could hurt his chances. He might emerge if the other conservatives (Ratzinger, Tettamanzi, Arinze) cannot gain the necessary votes to win.
Cardinal Jorge Maria Bergoglio, S.J., Cardinal-Priest of S. Roberto Bellarmino, former Archbishop of Buenos Aires

(Image courtesy of www.chiesa)
Career summary here.
Current odds are 12-1.
A rather flattering biographical story on him here. Another complimentary story here.
Cardinal Bergoglio seems to be widely acceptable to the church as a whole; he appears to be more conservative than Maradiaga. He seems to be a technician, interested in fixing nuts and bolts issues, and has set a good example through his piety and humility -- which are not traits one normally associates with a Jesuit. He could be a very strong candidate.
Cardinal Jose da Cruz Policarpo, Patriarch of Lisbon.

According to this About.com profile, Cardinal Policarpo is seen as a moderate.
The theory on Policarpo is that if the Europeans and Latin Americans are deadlocked, he could emerge, as he is Portuguese, and therefore speaks one of the principal languages of Latin America. He also is somewhere in the middle theologically, so if the conservatives and liberals deadlock, he could be a consensus choice.
Career summary here.
Current odds are 12-1.
Cardinal Francisco Javier Errazuriz Ossa, Archbishop of Santiago, Cardinal-Priest of S. Maria della Pace

(Image courtesy of www.schoenstatt.de)
Ideologically, he's somewhat hard to pin down. The article is from the Cardinalrating.com site, which looks pretty interesting.
Career summary here.
Current odds are 14-1.
Cardinal Oscar Rodriguez Maradiaga, SDB, Archbishop of Tegucigalpa, Honduras

(Image courtesy of Apostolische-nachfolge.de)
Career Summary here
Oddsmakers currently have him at 16-1.
A Salesian of Saint John Bosco, which means he belongs to a religious order. Age 62, so the youngest so far. A bit radical. Interview with him here, with a money quote:
Q: On balance, liberation theology was a good thing?
R: I would say that we cannot talk of one liberation theology. There were many, many different currents. But I know that looking in perspective, and putting aside the armed violence that provoked many, many deaths, it has left many good things, many good things.
A final thought. The election, although conducted through the agency of men, is not entirely conducted by men. Catholics believe that the Holy Spirit moves through the conclave and during the hours that the Cardinals spend deliberating and praying, influences their choices. Sometimes the conclave produces results no one could have foreseen.
John Paul II was the product of such a conclave -- although at the start of the conclave, a few cardinals knew him well and supported him, no one ever expected him to become Pope.
I, for one, believe that the Conclave is not without its mystery. Our next pope could very well be someone not on this list.