but isn't it novel that the election could be "two decent candidates" versus "one good and one very bad?"

Yes, absolutely. It is a very nice change, and more than I usually hope for from a presidential campaign. Not that there is any choice for me -- McCain or no McCain, I'll vote for whoever gets the Democratic nomiation -- but it's nice to think that I won't want to flee the country if the "other side" wins (which I was seriously tempted to do in 2000).