My view: It's a draw so far. Both are holding their own. Cheney has a better command of the details but Edwards has the better style. And of course Cheney has some pretty bad policies to defend.
Cheney was aggressive and persistent in his critisism of Kerry's record in the senate. I agree with this somewhat, Kerry's record is not great. Yes he was in Ted Kennedy's shadow but that's no excuse for not using his position in the senate for public good.
Luckily for Kerry/Edwards, Cheney was just rambling on about the senate record though.
OUCH - just heard Cheney saying that tonight was the first time he met Edwards. That one hurt. Edwards answer on Israel/Palestine was very confusing, I don't really know what he was saying.
Still I think it's a draw, Edwards speaks slowly and convincingly, and he's not letting Cheney rattle him which is huge.