This could very well be the last presidential debate for the next six months, so it seems worth live-blogging. On the other hand, this is the 20th debate on the Democratic side of the ledger, and I've watched enough of them to feel like we're in re-runs.

Updates once the debate starts.

12:00 PM: One last thought -- my bet is that the press coverage will focus on the tonal contrasts between Clinton and Obama. It should focus on the fact that both candidates want to threaten withdrawing from a treaty as one of their first acts in office as a way to build up America's image abroad.

10:39: ACK!!! Keith Olbermann!! Run away, run away!!!

10:37 PM: Well, it's over. My take is that Obama brought it home -- his tone and demeanor were measured -- he seemed unflappble and, you know, presidential. Clinton had too many carping moments. The times where she could have proffered grace notes (the to and fro on Farrakhan) she was overly aggressive.

10:29 PM: Obama tries to end on a similar grace note to mirror Clinton's Texas valedictory. The funny thing is that Hillary's face is completely impassive during the first part of his answer.

10:28 PM: Clinton's last answer always seems to be her best.

10:20 PM: Obama gets political science props for critiquing the methodology of the National Journal rankings. He gets political props for turning the question back to his overarching campaign themes.

10:17 PM: Sullivan thinks Obama's Farrakhan response was, "A weak response - reminiscent of Dukakis." I'll just note that the Official Blog Wife concurs. Greg Sargent disagrees. What I found really disturbing was this statement by Clinton:

I just think, we've got to be even stronger. We cannot let anyone in any way say these things because of the implications that they have, which can be so far reaching (emphasis added).

10:13 PM: Wow. Did Hillary Clinton just say that rejecting an anti-Semitic party endorsement was going to put hurt her 2000 Senate campaign at risk.... in New York?!! That is just so politically brave of Hillary Clinton.

10:08 PM: Russert tells Obama, "You have to react to unexpected events in this campaign." I half-expect him to then leap over the table, stab Obama with a shiv, and then say, "like that!!"

10:05 PM: And at 65 minutes, my Russert allergy kicks in.

10:01 PM: Obama's response to Clinton's "fighter" point on health care is pretty sharp. His counterpunching has definitely improved over the course of the campaign.

9:57 PM: Hillary gets off a good line in response to her Obama-mocking: "It's hard to find time to have fun on the campaign tail."

9:49 PM: A sign of growing debate fatigue -- I welcome the commercial break. Hmmm.... must consult doctor about Abilify....

9:45 PM: I can't tell whether Russert is more obsteperous towards Clinton in his questions... or if Clinton is so used to Russert that she feels she has to interrupt him to make her point. Neither of them looks particularly good during these exchanges, however.

9:40 PM: I do hope that the general election debates are at this level. Clearly, these two are disagreeing, but on the whole it's been at a pretty high level. The resolution of today's McCain-Obama dust-up is encouraging here.

9:39 PM: Josh Marshall: "you've clearly got both of them right on their game tonight. These are both just incredibly accomplished sharp people and both at the top of their game."

9:34 PM: Sullivan is right: "[H]e seems like a president. She seems annoyed."

9:27 PM: I'm glad that the first thing Hillary Clinton will do to improve America's image abroad is inform Canada and Mexico that we'll withdraw from NAFTA unless we renegotiate the trade deal. That'll do wonders. UPDATE: Oh, goodie, Obama agrees. Excuse me while I go bang my head against a wall. [UPDATE: Hey, shouldn't someone call Obama for flip-flopping on withdrawing from NAFTA?]

What I find so fascinating is that both Obama and Clinton are saying that NAFTA benefited some parts of the country but not others. This is undoubtedly true, but the policy response to that is not to renegotiate NAFTA -- tougher labor and environmental standards won't affect Ohio's economy. The answer is to expand trade adjustment assistance programs within the United States.

9:19 PM: Did Hillary Clinton actually complain that, "I keep getting asked the first question" and then reference Saturday Night Live?! And she says that Obama isn't tough enough for the general election?! You got to be f***ing kidding me. UPDATE: The Clinton campaign is apparently obsessed with SNL.

9:17 PM: Just 16 minutes on health care, and no applause -- yay, MSNBC!!

9:11 PM: Hillary's giving a good rebuttal on health care -- but at the beginning of her answer, she seemed to iply that it's perfectly fine to use attack mailers on other, lesser subjects -- but it's different with health care.

9:08 PM: I continue to be impressed with Obama's improvement over the arc of these debates.

9:03 PM: Health care is a passion of Hillary Clinton? Who knew? After the debate, MSNBC will be airing its 14-part series, The Passions of Hillary Clinton.

9:01 PM: Oh, MSNBC gets immediate bonus points ffrom your humble blogger for not bothering with the walking-out portion of the debate.

8:00 PM: The debate starts in an hour. In the meanwhile, to liven things up, consider the following drinking rules while watching this debate: