There has been much blogged about the Obama MySpace thing for a good summary I recommend you read what Rick had so say (he ran Obama's campaign weblog during his senate run).
I guess for an obvious reason I have a different interest in this than most folks. The big question that comes to my mind is if this will lead to someone filling an FEC complaint? Because it does beg an interesting question in this web age. If you create an Internet 'asset' that gets handed over to a candidate for any reason is that still a donation that needs to be reported and is subject to limits?
I don't know the answer and I suspect some attorney who deals with this sort of law does, if nothing else I suspect at some point someone is going to push the issue with the FEC. For example if the guys who had www.gwbush.com had let the Gore campaign use the URL would that have been a donation?