It's a pretty amazing strategy, actually, because it's much harder to argue with someone who is completely and shamelessly making shit up. It leaves your oppoenent bewildered and slackjawed and stuttering-- "but, but, none of that is true!" It's much harder to forumulate your own argument because you're standing their in a sort of stunned righteous anger.
What the campaign is betting on is that McCain has the whole honorable POW thing to innoculate him. They seem to think that convincing others that he is lying will be especially difficult-- especially after 8 years of Bush we all expect some level of distortion and spin.
I fully expect that McCain's next stage of his strategy will be to spend a lot of time talking about the importance of truth and honesty in government-- because that means he's truthful and honest, right?
The bottom line is this-- we have never seen a campaign quite like this so a lot of people don't seem to recognize what is going on. Here's to hoping that they do catch on. My one hope is that at this rate of lying he has to make up a real doozy that could seriously catch up with him. Something so obvious that it doesn't look like spin against him. That's the problem with lying-- you have to keep track of all the lies because eventually you're lying about the lies in a way that increases your chances of exposure.