UPDATE (10:19 pm ET): CNN reports Murkowski is conceding. Her tone and attitude toward Miller will be crucial.
UPDATE II (10:23 pm ET): It's official. Murkowski is bowing out, for the good of the state & the party. Kudos to her for refusing to drag this process on. Conservative Joe Miller--you know, that ignorant yahoo who attended West Point, won a bronze star in Desert Storm, and holds a Yale Law degree--is the GOP nominee for United States Senate in Alaska. Somewhere, a certain Mama Grizzly rejoices.
UPDATE III (10:40 pm ET): On CNN, Former White House Spokesman Ari Fleischer says the seat is safe with Republicans; Paul Begala (!) congratulates Sarah Palin on a savvy endorsement. The panel seems to agree Miller will defeat the Democratic nominee...oh, what's his name again?