They are targeting Bush and still have no agenda. The Dems are going to be slaughtered if they think they can win by just attacking Bush. It didn't work in 2004 and it won't work in 2006 povided Republicans don't fall all over themselves trying to run away from the President. The key to 2006 is for Republicans to present a unified front with a centerpiece conservative agenda that will get people out to the polls which will be critical to Republican success.
The Democrats still have the huge problem of not connecting with the people who they will need to vote for them until they fix that problem they will continue to lose as long as they have an opponent who is willing to fight.
The republicans will have a difficult time doing this. Their wasteful spending, new big government programs, and the lack of a meaningful domestic policy will make their efforts in the next 7 months seem phony.
IMHO, the election will hinge more on the price of gas this summer and fall than all the election year politicking the lobbyists money can buy.