I only saw part of the debate, so I can't speak too well on the whole thing, but here's my take on the 20 minutes I watched.
Bush:
+Came across as a regular guy, as usual
+Emphasis on staying the course
+Somewhat better insight than usual in his policy decisions
-Still not a very good public speaker
-Maybe came accross as too regular
-Left on the defensive, quite a bit
Kerry:
+Not as pompous sounding as he has been in the past
+Some strong, concrete criticisms of Bush's policies
+Better spoken than Bush
-Still sounded pompous
-Iraq policy still seems muddled, came across as "I'd do what Bush is doing, only better" (perhaps cleared up in other parts of the debate?)
Overall, from what I'd saw, I'd give a slight edge to Kerry, if for no other reason than he came across much better than I expected. I don't see a resounding victory across the board for him, and so far my online reading list seems mixed on the topic of the outcome outside of die hard Bush or Kerry supporters. I think Bush still held his own to some regard, and his focus on the resolve to win the war in Iraq was welcome, at least from my point of view, as I see it as imperative that we follow through, regardless of what you might think of the reasons for invading Iraq. I did not sense that same commitment from Kerry. Strategically, if Bush can continue to stay in the debates whatsoever, I think he effectively wins the war, but not the battle. Anything that can even be mistaken for a tie will likely not make enough of a difference to clinch the election for Kerry.
Bush:
+Came across as a regular guy, as usual
+Emphasis on staying the course
+Somewhat better insight than usual in his policy decisions
-Still not a very good public speaker
-Maybe came accross as too regular
-Left on the defensive, quite a bit
Kerry:
+Not as pompous sounding as he has been in the past
+Some strong, concrete criticisms of Bush's policies
+Better spoken than Bush
-Still sounded pompous
-Iraq policy still seems muddled, came across as "I'd do what Bush is doing, only better" (perhaps cleared up in other parts of the debate?)
Overall, from what I'd saw, I'd give a slight edge to Kerry, if for no other reason than he came across much better than I expected. I don't see a resounding victory across the board for him, and so far my online reading list seems mixed on the topic of the outcome outside of die hard Bush or Kerry supporters. I think Bush still held his own to some regard, and his focus on the resolve to win the war in Iraq was welcome, at least from my point of view, as I see it as imperative that we follow through, regardless of what you might think of the reasons for invading Iraq. I did not sense that same commitment from Kerry. Strategically, if Bush can continue to stay in the debates whatsoever, I think he effectively wins the war, but not the battle. Anything that can even be mistaken for a tie will likely not make enough of a difference to clinch the election for Kerry.