Let's all breathe a collective "Thank God, it's not Bush or Schwarzenegger".
CBS reports Time's choice in a pretty positive light:
http://cbs.marketwatch.com/news/story.asp?guid=%7B806E2260-0795-43E9-8C12-A545C55D0A88%7D&siteid
google&dist=google
But, check out this more controversial spin by the Associated Press, which includes the summary in the magazine:
"http://www.ajc.com/news/content/news/1203/22time.html">http://www.ajc.com/news/content/news/1203/22time.html
I have to say I'm pretty pleased with the choice and their reasoning.