But I don't mean favourite to win, more that he is still many fans' favourite despite a horrible race at Korea's debut GP.
This weekend was always going to be a seriously good race, and up to the point when I turned on the BBC coverage to see the worst rain all season, I still held out hope that it would be. But then the first delay came, then the safety car start, then the red flag, until finally after another SC start the race was underway.
And it was an event that you couldn't help feel was going to end in triumph at the expense of somebody else's bad luck.
The first dose came to the points leader Mark Webber. He was the first to admit that his DNF came from his own mistake, proving beyond all reasonable doubt that if you are going to contend for the title, you just can't afford mistakes like that.
One thing you have to hand to Button's campaign last season was that even though the car was generally head and shoulders above the competition, he rarely found himself walking back to the pits, which played a massive part in his ultimate win.
Sebastian Vettel, on the other hand, suffered a mechanical end to his race, one that he didn't deserve, and Alonso delighted in. The closer Fernando gets to the title, the more I feel like it shouldn't be him. Of course he is a brilliant driver, but without certain incidents, you could argue that he should be towards the bottom of the top five.
So back to the big question. It was conceivable to think that the title could have been wrapped up by now, if not mathematically then certainly speculatively. But the events in Korea go to show that with only two races to go, it still could go five ways. The sensible money would be on Alonso, but you certainly won't find me making that bet.
Think of Kimi in 2007. That was all but Hamilton's title until the very last minute.
What's certain is a season that initially looked to be nothing short of dull has turned out to be the best yet.