By now you know that Barack Obama has won the Iowa Democratic Caucus by more than 7.5% over his nearest rival. Tonight's win was huge for Obama for many reasons.
It revealed the raw power of Obama's organization and his ability to draw new blood into the process, including a significant number who aren't captured in polls because they aren't "likely" Democratic voters: they are unlikely Democratic voters.
Obama's big win may have effectively eliminated John Edwards. Edwards poll numbers are not as strong in other states. He was counting on a big win in Iowa to jump start his run and restock his campaign war chest.
While Clinton came in third, her loss is not as catastrophic because she remains ahead in several states that are soon to come and her campaign war chest remains full. Recall that Iowa was never going to be a strong state for Clinton and Mike Henry originally advocated skipping this state. Her strong third place finish effectively eliminates Edwards and has already caused Dodd and Biden to drop out.
My verdict: this race will rapidly narrow to a Clinton-Obama race. The main issue will become who can unite the Democratic Party and the nation. Clinton carries a lot of divisive baggage while Obama delivered a masterful victory speech with a theme of uniting and healing the nation.
That was the extra point. Obama's victory in Iowa has allowed him to break away from the pack and he will enjoy amazing media coverage for the next few days. If he continues to make speeches like he made tonight, then he will lock up the nomination and move to unify our nation, to "end the politics of fear and bring back the politics of hope."