Outremont aside, the fourth place, paltry 5% in Saint-Hy speaks to basic extermination with francophones for the Liberals. Hard to find anything positive in these numbers for the Liberals, really hard.
If, and this is still a big if, these numbers come down like the above, then Dion and the Liberals suffer a huge blow, that isn't easily discounted. A possible Conservative victory provides plenty to crow about, and the NDP would be beyond ecstatic to win in a former Liberal stronghold. The Liberals would be left to damage control, as the realization that the last bastion of support is threatened and Dion looks an albatross.
You don't want to sound alarmist, but neither should anyone rationalize away the fundamental problems. The above is the worst-case scenario for the Liberals, a nightmare that will haunt the party moving forward. Should be a fascinating night, that looks a watershed.