I'm no politico, but here are the interesting races from my view.
1. Virginia - US Senate seat. Incumbent George Allen lost to Democrat Jim Webb by less than 8,000 votes out of 2.3 million total cast. A major disappointment - clear choice between liberal and conservative, and the former prevailed. If only more Democrats had voted 3rd party...
2. Virginia state constitutional amendment to define marriage as only between 1 man and 1 woman: passed easily - 57% to 43%. This was a delight, as I got to vote for Michigan's similar amendment there last year, and here this year.
3. Back in Michigan, liberal governor Granholm easily pasted big-money, Republican-establishment Dick Devos, 56% to 42%. I'm sure it wasn't hard to garner the liberal base against him.
4. Big picture, the house is in Democrat hands, and the Senate is a virtual stalemate. Republican establishment bewails it. Some less partisan conservatives see it as a good thing, and I tend to agree. This will mean less Republican big spending getting through. With gridlock, less government happens - a generally good thing. These days, I'd rather have less government, even if it is Republican.
The one exception to that would be the Senate when it comes time for court nominations. I'm seeing a slim chance of any more good judges getting on, with only 2 years of Bush left, and a more hostile Congress. I also predict (in a Nostradamus manner, tongue firmly in cheek) that the backlash against Republicans will continue in 2008, and a Democrat will be president.