Yep. That's going to be a biiiiiiig problem for him. I don't think he can do it, frankly. Or do it frankly. (ha ha - get it?) Even if he manages the time thing, no one will understand his big words & long drawn out sentences. I think Bush will win handily, like he won the Gore debates (well, I only saw two of those I think; I think Bush won both of those).
Fox just had Gerry Brown on talking about this - and he said Kerry needs to to stay away from complicated compound sentences.
Senator Kerry's problem is that he can't bloviate properly unless he can end his statement with "I yield back the remainder of my time." It will look really stupid when he says "I yield back the remainder of my time" then the blinkin' light has been going off for the last five minutes...