Kerry has named Edwards as his running mate. This is probably good news for Bush. Kerry was counting on his announcement getting him lots of press, possibly from the announcement through to the convention. He even postponed the announcement a few weeks so that he would not have to compete with the release of Clinton's book.
The problem is that Edwards was the most likely pick. Everyone expected it and Edwards is already a known quantity after his primary run. That means that it will be old news by tomorrow.
I doubt that Edwards will add much to the Kerry ticket. He didn't do very well in the primaries. He only hung on as long as he did because he didn't spend any time campaigning in the early northern primaries. He was hoping to do well enough in the delegate-rich South to make up for skipping the early races. By the time he really faced off against Kerry, Kerry had so much momentum that Edwards failed to win but his home state.
Edwards did strike a chord with the voters. Many liked him better but felt that Kerry's experience made him more electable. Now, having him as the number two person on the ticket may remind Democrats of what they could have had. Also, Edwards was running against a bad economy. After several months of economic expansion his message might not play as well as it did last Winter.
This does help the Kerry campaign a little - he can now send Edwards to make personal appearances.
Rather than going over any more of Michael Moore's deceits, I will just link to this site. Currently it is up to 59 deceits although the number fluctuates according to documentation received.