In 2004 there was evidence of voting fraud in Ohio -- the exit polls weren't matching the results (http://whatreallyhappened.com/WRHARTICLES/2004votefraud_ohio...).

Bush won Ohio, which helped him win the election by the narrowest of margins. Ohio used Diebold electronic voting machines, and Diebold's CEO Walden W. O'Dell was a long-time Bush loyalist. Later it was confirmed that Diebold voting machines could be hacked remotely (http://news.ycombinator.com/item?id=3045086).

So yes, being able to create an independent, accurate model will add another layer of verification and will hopefully help keep voting fraud in check.