The real point here is not how they're projecting Kerry, but how suddenly Edwards is a viable candidate going into the Southern states on Super Tuesday. This is the worst possible time for Kerry that Edwards could make a move. Now Edwards has momentum going into his own backyard, where after Tennessee and Virginia it appeared that Kerry might sweep through the South as well.
It's a race now, folks. When Dean finally drops, hopefully soon, this thing will pull into focus and we'll finally get to learn a little about the two candidates. I've been waiting for this - I have no intention of voting for a candidate just because he's "not Bush", but if we get to see them start to take strong positions, we'll get to make an informed choice.