Debate reaction -- Cheney seen as winner

The general punditry consensus seems to be that Cheney won the debate rather resoundingly. Since the substance and style of each candidate were relatively the same as between Bush and Kerry, I'm a bit perplexed as to why Cheney is being declared the winner this time around and Bush was not. I posit a couple of explanations for this:

1. The media elites, while they don't like Dick Cheney for the most part, at least have some respect for his intelligence, command of policy, and general wonkishness. Therefore, when he tells us that Iraq is essential to the war on terror, they...well...kinda tend to believe him. Whereas they give no such deference to W simply because they've convinced themselves that he's just too stupid, and besides that, they really really despise him. It's akin to hearing a subordinate and disliked playmate on the playground announce to you that there is no Santa Claus -- you mock the statement and deride it until, upon querying your father later that evening on the issue, he reiterates said playmate's statement with an air of seriousness, regret and deep authority.

2. The slick style displayed by Kerry last week and Edwards tonight wore thin. When an amateur magician performs a cheap sleight of hand, most are taken in by the theatrics the first time around. But if you manage to catch the trick a second time, your eyes stay fixed on the hand holding the card and not the one posing as a diversion. I think most viewers kept their eyes fixed on Edward's non-diversionary hand tonight and the jig was up.