The NYTimes is not as enthused:

This page has not hesitated to criticize the Bush administration over its policies in Iraq, and we continue to have grave doubts about the overall direction of American strategy there. Yet today, along with other Americans, whether supporters or critics of the war, we rejoice in a heartening advance by the Iraqi people. For now at least, the multiple political failures that marked the run-up to the voting stand eclipsed by a remarkably successful election day.
But once the votes are fully counted and the new governing and constitution-writing bodies begin their work, those errors, particularly the needless estrangement of mainstream Sunni Arabs and their political leaders, must be urgently addressed. In the longer run, this election can only be counted as a success if it helps lead to a unified Iraq that avoids civil war and attracts a broad enough range of Iraqis to defend itself against its enemies without requiring long-term and substantial American military help.