I haven't hung on every debate simply because much of what we see early on is just throwing red meat around as well as the fact that the field has to be whittled down to the 4 or 5 still standing before it is really worth watching-IN MY OPINION
That being said I have watched clips from the Kos and the You Tube and last night in Chicago. The people are far more informed and insightful than the national media. I have seen not just heartfelt questions and exchanges but examples of intricately researched and developed opinions/questions FROM the audience. Some of the responses haven't been that great (to my taste) but the participants in these debates and discussions apparently didn't need to go to the prestigious schools (of networking and name dropping) that our oh so erudite media members went to...to all end up with the same cocktail party banter.
Having spent 6 years here on DU this is no surprise. Not that it is all reasoned and developed here or on the other parts of the blogosphere but we are actually seeing people, actual ones, engaged directly with the prospective leaders of our country and the world. An incredible ability that even 3 years ago didn't really happen, not for the lack of an informed netroot (or otherwise) public mind you.
What is also not surprising is the reaction of the old guard, the established press. Joe Klein provides a crystal clear example of it here
http://thinkprogress.org/2007/08/07/joe-klein-bloggers-spew-anger-vitriol-and-disdain/I am reminded of the articles in the early 90's about the trusty old stead that were writer's typewriters, you don't hear much about those anymore. Same thing here.
Whomever gets out of this process and gets the nomination should feel like they took off the batting donut and can swing for the fences against minor league pitching that the moderators of the national campaign are.