I think it's becoming clearer that the instant consensus amongst commentators - that the debate was a draw or narrow victory for McCain - was wrong.
A new poll confirms the instant polls: voters thought Obama did a better job than McCain. Not only that but Obama's positives shifted considerably whilst McCain's stayed pretty much the same. Obama did particularly well on the economy; over a third said they had less confidence in McCain's ability to fix economic problems after watching the debate.
In other words, Obama got what he wanted out of this debate. He established himself as a serious alternative in the minds of people who are only just paying full attention. McCain's ratings were never going to shift much, because he's already well-known. So his only hope was to knock Obama off balance. He didn't manage it. Not only that, but he made two key mistakes. Firstly, his demeanour, which was churlish. Secondly, not talking about the voters. He never uttered the phrase 'middle-class', a fact that the Obama campaign has turned into a fairly effective ad.
In fact, Friday's debate may turn out to be the most significant turning point of the campaign, even though it might not feel like it right now. James Fallows, veteran journalist and former speechwriter for Jimmy Carter, is probably the world expert on US presidential debates, having written about them at length. He puts Friday night up there with the biggies:
When the details of this encounter fade, as they soon will, I think the
debate as a whole will be seen as of a piece with Kennedy-Nixon in
1960, Reagan-Carter in 1980, and Clinton-Bush in 1992.
In each
of those cases, a fresh, new candidate (although chronologically older
in Reagan's case) had been gathering momentum at a time of general
dissatisfaction with the "four more years" option of sticking with the
incumbent party. The question was whether the challenger could stand as
an equal with the more experienced, tested, and familiar figure. In
each of those cases, the challenger passed the test -- not necessarily
by "winning" the debate, either on logical points or in immediate
audience or polling reactions, but by subtly reassuring doubters on the
basic issue of whether he was a plausible occupant of the White House
and commander in chief.
I think that's how this debate will be seen.
Just like Kennedy-Nixon, this debate was won on the intangibles of tone rather than on substance (though Obama clearly had more to say about the economy than McCain). I still think, as per my instant reaction, that Obama's tone and delivery weren't quite on point, but even so, he evoked the right emotional reaction from undecided voters: here is a guy who talks and acts like a potential president.