At present, some of the election rules seem a bit diffuse. For example, it seems likely that we'll skip the 'primary' stage if there are not 30 volunteers, but that is not really explicit anywhere. What is not at all clear to me is what happens if we have less nominations than vacancies: this does not seem to be mentioned anywhere. Is there a formal list of the election rules anywhere?
The best description of the process that I can find is here: http://blog.stackoverflow.com/2011/01/trilogy-2011-elections-begin/. It seems they have changed things a bit though: The minimum rep requirement is 300 and not 2000.
As it says here
Note: If there are 10 or less candidates at the end of this phase [nominations], we skip directly to Election.
I'll make sure the sidebar on the election reflects this, it does not currently. Sorry about that.