Here's a good post on the state of the race. Lots of breasts are being beaten over the narrow gap between the two candidates and how McCain has vastly outperformed the GOP in general while Obama has vastly underperformed your ANSI standard Democrat. It's all very dramatic.
Might I suggest that the reason for the narrowness of the polling is exactly because it's all very dramatic?
Various media outlets have their little political biases but any bias is dwarfed by the need to make money. That's what the media is in business for. Tight races keep readers reading, viewers watching, listeners listening, and bloggers blogging. And all of those activities keep advertisers advertising, which is good for the media.
I am overjoyed that we're seeing Obama slowly regress from a rock star to a politician. Once he's a politician, we can actually assess whether he'll be anything like a good President. In this particular instance, the media's interest and the public's interest happen to coincide. Let's see what happens.