9:59: Hume and Wallace hand off to Hannity & Colmes.

9:55: Chris Matthews talks with Obama campaign manager David Axelrod.

9:52: Cafferty talking about the Obama win: "Iowa is the whitest place outside the North Pole."

9:47 Andrea Mitchell at Clinton HQ with that KT Tunstall song playing in the background. "Suddenly I See..." third place in Iowa.

9:46: Giuliani now talking with Blitzer.

9:41: Juan Williams on Obama's "astounding" and "historic" win in 95% white Iowa. "He won the white vote in Iowa."

9:38 Bill Kristol may have just created a new candidate on FNC: "Rockabee."

9:36: I'm digging CNN's pie charts.

9:33: Chris Matthews talks with Rudy Giuliani. Matthews calls Huckabee "the resounding figure" of the GOP.

9:29: "Dramatic" most over-used word on CNN tonight.

9:28: CNN (Blitzer) projects Obama win. FNC (Hume) calls it seconds later.

9:25: NBC projects Obama wins Democratic Iowa caucus. Matthews calls it on MSNBC.

9:20: Ed Rollins (Huckabee's campaign manager) uses FNC airtime (with Chris Wallace) to ask for volunteers to join the campaign. Rollins would still like to knock Mitt Romney's teeth out, figuratively, of course. Bonus: Johnny Dollar has the video...

9:15: Chris Matthews and Pat Buchanan going at it over Huckabee win. Matthews asks Rachel Maddow to assess GOP race from her "distant planet."

9:06: Bill Bennett on CNN (as FNC did earlier) talks about a high turnout of Evangelical Christians: "twice" the number than in 2004.

9:03: Caroline Shively is given "bad information." No, that's not Joe Biden who just walked into the raucous Democratic caucus she is covering for FNC; just another graying, caucasian caucus-goer.

9:00: FNC also projects Huckabee the winner in Iowa. Update: I'm hearing FNC called it at 8:54...confirmed.

9:00: Olbermann wraps up the Countdown portion of election coverage. NBC calls the GOP caucus for Huckabee on MSNBC.

8:58: CNN projects Romney is second in Iowa GOP caucus.

8:56 CNN projects Huckabee wins Iowa GOP caucus.

8:53: Chris Matthews joining Olbermann at MSNBC election headquarters in New York.

8:51: Chris Wallace interviews John McCain on FNC.

8:46: Dueling entrance poll segments: Megyn Kelly on FNC, Norah O'Donnell on MSNBC.

8:42: Fred Barnes tells Brit Hume, rural voters could make the difference; straightens stack of papers in front of him.

8:37: Anderson Cooper announces "we're going to get some coffee for the best political team on television." Please, none for Dobbs.

8:35: Oil finished the day at $99.18/barrel. Oh, sorry. Stopped at CNBC for a second.

8:30: FNC picks up live coverage. Brit Hume talks with Carl Cameron and Major Garrett. Garrett talks about high turnout, and how it could benefit Barack Obama.

8:30: CNN inside a caucus in Persia, Iowa (no Farsi spoken here). Wolf then takes viewers to Des Moines (Dem caucus #71) to listen in. Can't hear much. Donna Brazile and Jack Cafferty listening in as Anderson Cooper talks with John King, Borger, Gergen and Suzanne Malveaux. What is the capacity of the CNN Election Center anyway?

8:25: Back to Gregory; audio's good now, at an elementary school (Precinct 214) where caucus is being held.

8:24: Technical problem with David Gregory's audio at a caucus. We see David, and hear an Iowan adding some numbers. (Sr. Lucille where are you?)

8:20: Iowans caucusing line up live on CNN. Tom Foreman peers into a middle school cafeteria. Soledad O'Brien and Bill Schneider break down entrance polls: Older women make up Democratic early-arriving caucus-goers (from early bird specials, we hear.)

8:16: O'Reilly tells Jane Hall and Bernie Goldberg he's "gettin' scared" because likeability has become more important than experience when it comes to electing a President.

8:13 Olbermann announces a West Des Moines caucus has 200+ participants. Russert uses the math Sr. Lucille taught him back in Buffalo; there are three times as many participants tonight than in 2004.

8:11: Keith Olbermann talks with Tim Russert on MSNBC about independent voters.

8:07: Jeffrey Toobin touching CNN's monster monitor and graphics pop up and down. Blitzer pauses to listen to natural sound inside a caucus; guy inside announces another "35 minutes" before the real "meat and potatoes" of caucusing can begin. Iowans applaud.

8:02pmET: Wolf Blitzer "dips in" to small caucus while in the background of the CNN Election Center Gloria Borger shows David Gergen what's on her blackberry. MSNBC's airing a caucus-related Countdown, FNC's Bill O'Reilly asking Dick Morris if he can share anything "new" about the caucuses.