I guess it is in the eyes of the beholder. Glenn Reynolds first echoes Drudge in saying:
On the other hand, if ABC ran with a story that was wrong in its essential detail, turning consensual behavior among adults into underage sex, well, that's kind of a major blunder, too, at the very least.
A couple of things (as Glenn subsequently notices): we have no evidence (yet) of any actual sex; if we did, and it had happened in D.C., it would not have been legally under-age, because the age of consent is 16. From what I can tell the only illegality rests on the online predation bill championed by Foley.
Now can we all calm down, wait for the investigation to proceed and actually deal in this campaign with things like, er, war, torture, habeas corpus, crippling fiscal recklessness, climate change, and terrorism?