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Bush turned it around. He showed that he had some knowledge of detail about this and that, and was engaged, and could think on his feet. He was more natural; he was more likeable, than Kerry. Bush played to his strengths.

Bush missed of course the matter of Kerry voting against Gulf War I that all his generals who support him supported, that had the perfect coalition, and failed to call Kerry on the fact that his website (last time I looked) does not disclose how much the Kerry promises cost, and that might be why he didn't mention the number, and just said the Bush number was wrong, but life ain't perfect.

Bush reassured voters who want to support him (if only because of a pro incumbent bias) but have doubts that he is up to the job, mentally, and with his judgment, that he is. Bush got back the incumbency advantage. That is a major accomplishment.

That's my gut take.