No, I'm not happy about this. I think it's extremely unfortunate that he lied about it first. It's Clintonian, in exactly the wrong way, diminishes the expectations that Democrats *should* have for honest leaders. Such affairs may not be politically relevant, but once lied about, they most certainly become relevant as far as a politician's integrity. I don't expect politicians to be perfect, but if they're honest about their own failings, that at least indicates the potential to see mistakes, address them, and move on... something we definitely need in our next president.
Politically, Edwards is toast... but as much as I'm disappointed with him, I hope that his marriage survives and that he finds a bit more purpose in his life, outside the political spectrum.