Ron Paul thrashes Rudy

Ron Paul 2,425 11%
Rudy Giuliani 830 4%

after 25% of precincts reporting. Not bad for the Libertarians. Figure from Associated Press via Washington Post.

UPDATE:
Giuliani comes back, threatens to overtake John McCain. Ouch! However, Mike Huckabee with less than 5% of the spending of Mitt Romney, appears to be making the case against "money buys elections."
Iowa Republican Caucuses Results
Candidate Votes * %
Mike Huckabee 14,045 31%
Mitt Romney 10,084 23%
Fred Thompson 5,950 13%
John McCain 5,194 12%
Rudy Giuliani 4,901 11%
Ron Paul 4,379 10%
Duncan Hunter 168 0%
Tom Tancredo 2 0%
Key: * Explainer: What are these votes? | Red Checkmark Winner
Precincts: 41% | Updated: 9:20 PM ET | Source: AP

Iowa

I'm following the early Iowa caucus returns for the 2008 U.S. presidential election. The BBC's first error of the night was to predict that Republican returns would appear an hour before the Democrats.

In fact the Dems here got off to a brisk start.

The first result gave John Edwards 50% and Obama and Clinton 16.67% each.

For the Republicans here. Nothing as I write.

Latest figure:
Democrats:
Senator John Edwards : 34.24%
Senator Hillary Clinton : 32.12%
Senator Barack Obama : 30.28%
Governor Bill Richardson : 2.02%
Senator Joe Biden : 1.11%
Senator Chris Dodd : 0.14%
Uncommitted : 0.10%
Precincts Reporting: 205 of 1781

UPDATE:
The pundits suggest Barak Obama will have strength in depth, which suggests that he can pick up in the later reporting precincts.
Latest figure 1:48am GMT
Senator John Edwards : 33.44%
Senator Hillary Clinton : 32.24%
Senator Barack Obama : 31.63%
Governor Bill Richardson : 1.80%
Senator Joe Biden : 0.78%
Senator Chris Dodd : 0.07%
Uncommitted : 0.05%
Precincts Reporting: 367 of 1781
(Percentages are State Delegate Equivalents.)

UPDATE:
I was about to post figures showing Barak Obama ahead of Hillary Clinton, but the second place switched back. John Edwards is the leader though. But not by much...
Senator John Edwards : 32.52%
Senator Barack Obama : 32.41%
Senator Hillary Clinton : 32.15%

UPDATE:
with 530 precincts reporting...
Senator Barack Obama : 32.70%
Senator John Edwards : 32.38%
Senator Hillary Clinton : 32.02%
If Clinton comes third it's an open contest.

UPDATE: (2:40am GMT)
Senator Barack Obama : 36.68%
Senator John Edwards : 30.24%
Senator Hillary Clinton : 29.99%
Governor Bill Richardson : 2.01%
Senator Joe Biden : 0.94%
Uncommitted : 0.11%
Senator Chris Dodd : 0.03%
Precincts Reporting: 1487 of 1781

Hillary Clinton below 30% is not good for her, but Edwards failing to pull ahead of her is OK. Barak Obama's team can certainly feel good right now.