Thanks to Ross for sending the link to this report on Dr. Jeff Masters' Wunderblog: Meteorological Bomb Brewing for Canada on Wednesday. Excerpt:
As the storm pulls away from the Mid-Atlantic coast on Tuesday evening, it will undergo explosive deepening, meeting the criteria of a "meteorological bomb"--a storm that deepens by at least 24 mb in 24 hours.
In fact, the Monday morning 00Z run of the European model shows the pressure falling by more than double that pace--deepening by an extraordinary 40 mb in just eighteen hours, ending at 2 pm EDT Wednesday.
When the Nor'easter hits Nova Scotia and Newfoundland on Wednesday evening, the central pressure of the storm is expected to be between 956 - 960 mb, similar to the central pressure of a strong Category 2 hurricane.
However, Nor'easters do not form eyewalls with intense winds concentrated over a small area, and this Nor'easter's strong winds will be spread out over a large area. I doubt we'll see sustained hurricane-force winds of 74 mph or greater at any land stations, but sustained winds of 60 - 70 mph are likely in some locations, which will be capable of causing widespread power outages and considerable tree damage.
A storm surge of 2 - 4 feet may also cause coastal damage and moderate flooding, if the surge arrives at high tide.