In 2007, Dunkin's revenue was $5.3 billion, and the chain had become the No. 1 U.S. seller of regular coffee, iced coffee, donuts, bagels, and muffins, and the No. 2 in breakfast sandwiches.

As breakfast food becomes a factor in driving traffic, McDonald's has become another major player by relaunching a premium coffee offering. The fast-food giant will launch espresso beverages starting this spring, complete with in-store coffee bar and drive-through ordering.

Surprisingly, while consumers pledge that they are interested in cutting costs, neither Silverstein nor Balzer believes that pricing on coffee drinks is anywhere near as big a factor as speed and convenience.

McDonald's espresso-based offerings are priced from $1.99 to $3.29. Pricing for Starbucks and Dunkin' Donuts varies by region and franchise, but Kussell says Dunkin' is "about 10 to 20 percent cheaper" than its competitor—which in Manhattan falls in the $3 to $4 range for lattes of varying sizes.

If tomorrow's America will be a nation of fuel seekers, where does that leave Starbucks?

With its stock price having been cut almost in half from this time last year, Schulz has pledged a major turnaround for the brand.

Judging by Schulz's first weeks back in office, Starbucks will choose to focus on retaining "Starbucks loyalists" rather than catering to the masses with a speed-oriented approach.

Where Dunkin' and McDonald's are looking to increase convenience, Starbucks has slowed new-store growth and is emphasizing their historical success with the trademark "Starbucks experience." That means investing in improving employee training, maintaining their stores' premium feel, and offering free WiFi to customers. Where others are pushing hot breakfast, Starbucks is discontinuing heated foods because they "interfere with the coffee aroma." Given Schulz's gripes last year about Starbucks' shift to automatic espresso machines, a return to those theatrical manual machines might make a reappearance. 

As for who will be emerge victorious in the battle for the coffee dollar, Silverstein thinks it's too early to project a winner. 

"A win or loss in same-store sales is driven by 1 percent of consumers," Silverstein says. "But right now, I think that 1 percent is up for grabs."