I personally thought it was a tie. For many of the President's supporters, because he did not take the opportunities to blow Kerry out of his swift boat that seems to translate into a loss, for me it translates into not being a win and they are not the same thing. Look at the polls had it truly been a loss, rather than not a win, so many of those polls where President Bush was up by 3 to 5 points would have reversed, most did not.
Ah, the Slash and Burn group.