McCain only laughed every time Obama made a really good point against him that made him look like a slimeball. Laughing only made him look even more like a slimeball. Rather than defend himself with facts, he just laughed (because he couldn't defend himself, because Obama was right.)

On the other hand, McCain would accuse Obama of things that aren't true, and Obama would usually defend himself with facts while keeping his cool, or just say "That's just not true" because it's not something he could readily defend with facts at the time, due to the nature of the accusations.

Analysts are saying that it was even, but I'd have to say it was a bit in Obama's favor last night, especially if you consider that Foreign Policy is supposed to be McCain's strong point yet he didn't "stomp" Obama.