We won't have nearly as many on our side as the RATs will have on theirs, but ours have typically been very effective with their limited funds (e.g. the Swifties).
The media is giving Obama a free pass. McCain is giving Obama a free pass. Our 527s will not.
I'm betting the attacks will be pretty devastating when they come. There is soooo much material out there to work with.
Against Kerry, they had someone to enthusiastically support. They now have McCain and they now feel betrayed by their support of President Bush. I don't know that there will be as much enthusiasm this time.