Almost entirely good, I should think. Romney is taken down several pegs. McCain’s failure to get third won’t matter: The press set him up so he could win but couldn’t lose. The Democratic results will be the bigger headline, though, and they might hurt McCain if they draw New Hampshire independents to vote in the Democratic primary rather than the Republican one.

It’s good news for Giuliani, too, since it increases the likelihood of a split result in the first states and thus gives him the time he needs to get to Florida.