Unless you've been passed out or living under a rock for the last 22 hours or so, you know that Barack Obama announced his intention to "explore" a bid for the Presidency. The media is, quite naturally, in a frenzy. Here's a taste:

Judy Keen of USA Today focuses on the big question: Is Obama experienced enough to be President? The answer, given the overall tone of Keen's piece, is 'yes.'

Local coverage, analysis, and an editorial from the Chicago Tribune.

The run is good news for Chicago Sun-Times columnist Lynn Sweet and her seemingly insatiable appetite for all things Obama. She's written more column inches on him than anyone in the country, and she cranks out another piece today on his announcement. The Sun-Times also runs a brief and noticeably tepid editorial.

National coverage by Shailagh Murray and Chris Cillizza in the Washington Post and by Jeff Zeleny in the New York Times.

The Post also carries an analysis of the '08 Dem field by Dan Balz who writes:

Democrats moved a step closer yesterday to what shapes up as one of the most historic and compelling contests ever for their party's presidential nomination, a study in contrasting styles and candidacies in which race and gender play central roles in the competition.[snip]

But initially, the electricity will be generated by the Clinton and Obama candidacies. The news media will find the story line irresistible, and Democrats around the country are eagerly anticipating the competition. "Senator Obama's got the magic, but Hillary Clinton's got the muscle," said Jamal Simmons, a Democratic strategist who is neutral in the nomination campaign. "This is going to be a titanic fight between energy and charisma on one hand and money and organization on the other."

And in the Los Angeles Times, Janet Hook and Michael Finnegan look at the high-stakes fundraising battle that is now fully underway in California. Hillary's allies are wary of Obama, but not necessarily worried about him:

"[Obama is] going to have an effect on our fundraising -- no question about it," said Sim Farar, a major Clinton fundraiser in Los Angeles. "But at the end of the day, we will raise enough money for Hillary's campaign."

Of course, John Edwards is still hunkered down out there somewhere, waiting for the Obama storm to blow over and also bracing for the inevitable arrival of Hurricane Hillary, hoping that he doesn't have to wait too long before he can get to the business of bringing these two political luminaries back down to earth.