John Edwards' campaign is releasing this new ad today:

In a conference call with reporters, Edwards campaign senior staff were clearly trying to convince people that he's still in the game. Their basic point is that it remains a fairly close three-way race in Iowa, and this'll be the first Edwards ad after millions of dollars in spending from the rival campaigns. The ad, plus Edwards' strong performance in the most recent debate, are supposed to put him back on top in the caucuses.