The Bolshevik victory was a VERY long shot. I would assume that in the event of any other outcome, a thread along the lines of "What if Lenin becomes head of state, in a vast effort of militarisation killing millions manages to make his 'Soviet Union' a world military power which could win a world war, then hold the United States in a 40-year Cold War?" would be rightly consigned to the ASBs. However:
there is, unfortunately, no guarantee for a democratic government emerging. Kerensky had enemies on both sides, and while most Russians were prepared to back any government that brought them peace and bread, his position made it hard for him to deliver either. He was in hock to a significant degree to interests opposed to a negotiated peace and the losses that would bring, in extreme cases even favouring a continuation in view of the profits it earned them (this last point aided the Communists no end). If he had managed to negotiate a peace with Germany in time, he might have won over enough of the army, workers, and peasants to face down the factory interests and officers. He would still have to make concessions to the extreme left, but a Communist state would not happen.
Unfortunately, the more likely alternative I see would be a national-fascist military regime. The surprising thing about the Russian Revolution was the relative solidity and cohesion on the left. Most Communist revolutions tended to fall apart (just look at the Spartakisten in Germany). If that had happened in Russia (a very likely prospect), the revolutionary potential would not have been less, but the military opposition would have had it easier. Imagine a Mother Russia ruled by the likes of Kolchak, Denikin and Rennenkampf (though I doubt it would mirror the worst excesses of the civil wars).
Without some faction in favour, and strong enough to make it stick, Kerensky would need a very generous settlement to justify a peace, and the Germans were very unlikely to let him have it. They knew they just had to sit back and watch things disintegrate, and as far as they could tell a stable, democratic Russia was not in their short-term interests (had they known...). The longer he stays in the war, the more he faces hostile workers and soldiers, and the more he needs to rely on the right, who oppose a peace... I don't think he could have held on long-term.