Modern debates are not won on arguments. They are won on emotion. This was the moment of the debate:
Palin did surprisingly well, meaning expectations were so low that unless she had totally wigged out or said that she was Jesus, she was going to be perceived as having done a good job. Biden won the actual debate (pretty easy as Palin didn't really answer any questions posed to her by Iffel, only those questions written on her note cards, which once in a while corresponded to the question being asked).
FactCheck.org just for kicks.