There's no good way to spin this. Pack your bags.
Ford's support isn't going anywhere, despite all the trash that's been thrown at him. All the other candidates have no reason to drop out of the race. Each of them will selfishly believe that somehow they'll get luck and surge in the polls and that's unlikely. The remaining 4 will split the vote and Rob Ford will be Mayor.
I don't see a scenario where Smitherman or Joe will drop out. Rossi and Thomson may just give in to reality at some point but the other 2 won't stop. Pants isn't going to give up his 30 year political career without a fight. Smitherman is still in second place and as the official challenger, he'll take it to the end. With both of them in the race, neither of them will have the support to beat out Rob Ford.
The only way out is if the other candidates supporters abandon them. If John Tory's kids get scared enough, they might just put an end to Thomson's campaign and throw their support behind Smitherman or Joe. John Tory himself could change the race by picking one of them.
Anyway you think about it, things are looking bleak for Toronto.