My quick impressions.
President Obama was hesitant, thinking on his feet instead of rattling off rehearsed lines. He didn't do a good job of defending his signature domestic achievements: guiding the economy through the worse recession since the Great Depression, financial reform to insure against a repeat, and health care reform to extend coverage to tens of millions of Americans and improve coverage for all. Obama missed many opportunities to point out that Romney's promises sound good, but there is nothing behind his "plans."
After the jump, my impressions of Romney and my overall winner.
Governor Romney promised to reduce tax rates to the tune of $5 trillion without adding to the federal deficit. He promised to increase defense spending by $2 trillion without adding to the federal deficit. He promised to implement all the great features of Obamacare, after repealing Obamacare itself. He promised to increase Medicare spending by $700 billion without risking its solvency, promising to offer it unchanged as an option for young Americans. He promised to implement all the great features of Dodd-Frank financial reform, after repealing Dodd-Frank itself. I kept wondering how his answers would have gone over in a GOP primary debate. I kept concluding that he wouldn't be the GOP nominee. In short, Romney sounded like the moderate Democrat in the debate. My guess is Republicans won't notice.
Win: Romney on strategy and style.