The Politico offers this report, which begins: “Prompted by Barack Obama, a federal panel Thursday granted unprecedented fundraising flexibility to presidential candidates. But the unanimous ruling by the Federal Election Commission is likely to have little practical long-term impact. And it could leave Obama, the junior senator from Illinois and among the frontrunners for the Democratic nomination for president, in a tricky spot.” UPDATE: See also this posting at Going to the Mat.
Second update: Sen. McCain has issued this statement:

“John McCain welcomes the FEC’s ruling that presidential campaigns can accept general election funds with the option to return the funds and participate in public financing once the general election phase of the campaign has begun. The McCain campaign will now begin the process of accepting these general election funds, following the new FEC guidelines. Should John McCain win the Republican nomination, we will agree to accept public financing in the general election, if the Democratic nominee agrees to do the same.”