When was the last time, if any, that a mid-term election was this important in modern history?The present tense is unforgiving. It is brutal, and it is mean. And we can never make sense of it until it is far gone. That is to say, that's a fine question, and you'd better keep biting your nails, if there's anything left of them.
There's no comparison to be made, in my mind, between now and another moment. This election defies the usual patterns, in that the 2000 election and subsequent overthrow of the Senate were so strange. I imagine that had the Republicans held the Senate we'd be seeing a different result. The Democrats have nothing positive to offer, so they have offered no reason to stay in power. Were the Republicans in power, the Democrats would have had a stronger platform.
2004 may be strange, as well, for 2002 offers no settlements of political questions. It is the beginning, a launch, not a result. In fact, we might best look upon 2002 as the final tally of 2000.
Historically, the importance of today comes in a nation coming together around a leader. This has not been done for a very long time, perhaps going back to Kennedy. Not even Reagan had the consensus and purpose of the electorate behind him as Bush does in this war. But Reagan had the more difficult job of prosecuting a non-war.
Popular government is a strange beast. We've saddled it with a Constitution, which gives it rules. We've also managed it throught the two-party system, an anomoly in modern democracy, and a God-given blessing, for I don't see any reason for it. What it has done is to absord dissent and channel an orderly consensus. Nevertheless, popular government is dangerous. It is a great credit to the American people that they have acted today as they have.
To repeat, and to more succinctly answer your question, the historical importance of this election is that it closes 2000. The election of 2000 is finally over.
Hope that helps. Nice to hear from you!