Yeah, yeah, the horse race stuff is crap and the money race stuff is hardly more inspiring, but McCain raised $12M in February.
Hillary Clinton, who is not at all seen as the favorite at this point, raised $35M.
Barack Obama, who is widely seen as the favorite, but still faces a split decision from his party, raised "considerably more" than $35M.
In other words, the party that is busy coalescing around a single candidate, raised $12M for its nominee. And the divided party, the one that lives in permanent disarray, raised "considerably more" than $70M for the candidates who are currently battling to become its nominee.
None of the existing narratives really do justice to the campaign this year. Yeah, yeah, the horse race stuff is crap, but this election is the most exciting political race of my lifetime. After all these years of watching, it finally really feels worth it.