Wow, the Delta IV is impressive! Can we say new manned launch vehicle?
It does look like a monster vehicle, but this is somewhat deceiving. Since it is fueled entirely with liquid hydrogen, the tanks are enormous due the fuel's very low density. Nonetheless, it does seem to have the lift capacity to launch the
CEV. I have a feeling though the Delta IV will never be man-rated.
What does seem to me like a viable possibility is using the RS-68 engines on the Shuttle-derived
Heavy Launch Vehicle. This heavy launcher will use 5 SSMEs, but it is my understanding these are very expensive engines. The SSME are built for multiple use and are man-rated, but the heavy launcher is for cargo and the SSMEs will be expended each launch. This seems rather wasteful to me. I've heard the RS-68 was designed specifically to have a low production cost, and three of them have almost exactly the same thrust as five SSMEs. So why not replace the five SSMEs with three RS-68s?
Although the RS-68 and SSME have almost exactly the same specific impulse at sea level (365 s and 361 s respectively), the RS-68 does have a lower specific impulse at altitude (410 s versus 452 s). This means some loss of performance for the RS-68 that would have to be made up for with more propellant. This could potentially cancel out the cost savings from using the cheaper engine. I'm sure NASA has already thought of all this.