Majority voting is preferable to ranked voting, but another way to break potential deadlock is to give each delegate 100 votes and have him divide those votes among the candidates. You don't have to spend all your votes on one candidate if you think there are multiple that deserve support.
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I still think the best way of selction is to have continous rounds of voting, dropping the lowest candidate with each round until three are left. Once you are down to three the candidates ability to compromise and lead will come to the fore.
Suppose we end up with say, Obama, McCain and Lieberman. Consdier the possibilites. Would Obama offer the Sec of State job to Lieberman, the VP spot to McCain? Would McCain offer Lieberman the VP spot? There is all sorts of possibilities for politicing and compromising, and instead of these negotiations taking place in a smoke-filled back room (or star chamber), they'd be taking place in a public forum!
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