Bottom line: Obama and Romney scored points while turning off independent voters with their point-scoring. Democratic and Republican partisans will find reason to celebrate the debate but it likely did nothing to reshape the closely fought race.
The town-hall format posed a challenge for the candidates because it's difficult to launch a political attack while fielding questions from the audience without appearing to ignore the questioner. Obama and Romney didn't seem to care -- indeed, neither of them appeared to connect well with the crowd -- but perhaps that wasn't their point.
"What Governor Romney just said isn't true," Obama said less than five minutes into the debate after Romney challenged his economic record. A few minutes later, Romney accused Obama of cutting the number of permits for drilling on public land.
"We are using oil more efficiently," Obama shot back. "Very little of what Governor Romney just said is true."
Then he turned his body to directly face Romney. "Governor, when you were governor of Massachusetts, you stood in front of a coal plant and pointed at it and said, 'This plant kills,' and took great pride in shutting it down. And now suddenly you're a big champion of coal."
Romney was having none of it. When Obama advocated an "all-of-the-above strategy" on energy, Romney said that has not been what the president has done over the last four years.
"You cut permits and licenses on federal lands and federal waters in half," Romney said.
"Not true," Obama countered.
"By how much did you cut them?" Romney asked Obama directly.
"We have actually produced more oil ..."
"How much did you cut licenses and permits on federal waters?" Romney pressed.
"Here is what I did ..."
"I had a question. How much did you cut them by?"
And so it went, the leader of the free world and the man who presumes to assume the office squabbling like schoolkids.
The two men debated some important issues, including tax rates, gun rights, and energy.
Romney's strongest moments came when he accused Obama, accurately, of overseeing a troubled economy and falling short of 2008 campaign promises.
Obama reminded voters that he kept promises to cut taxes, make health care more accessible, regulate Wall Street, and refocus the military on al Qaeda.
"Osama bin Laden," he said, "is dead."
He caught Romney trying to reinvent his position on saving the U.S. auto industry. After Romney said he had wanted to guide the industry through a bankruptcy that would leave car companies solvent, Obama corrected the record. "What Governor Romney just said isn't true. He wanted to take them into bankruptcy without providing them any way to stay open, and we would have lost millions of jobs."
He also didn't let Romney get away promising to cut taxes fairly without identifying how he would offset the costs. "We haven't heard from Governor Romney any specifics beyond Big Bird and eliminating funding for Planned Parenthood," he said.