10:00PM - Full text of Obama's speech here. - BLAKE DVORAK

9:14PM - Obama is giving his victory speech right now. Here's a portion of his comments, via ABC News:

"But if there's anything we've been reminded of since Iowa, it's that the kind of change we seek will not come easy. Partly because we have fine candidates in the field -- fierce competitors, worthy of respect. And as contentious as this campaign may get, we have to remember that this is a contest for the Democratic nomination, and that all of us share an abiding desire to end the disastrous policies of the current administration."

"But there are real differences between the candidates. We are looking for more than just a change of party in the White House. We're looking to fundamentally change the status quo in Washington -- a status quo that extends beyond any particular party. And right now, that status quo is fighting back with everything it's got; with the same old tactics that divide and distract us from solving the problems people face, whether those problems are health care they can't afford or a mortgage they cannot pay.

"So this will not be easy. Make no mistake about what we're up against."

- BLAKE DVORAK

8:38PM - If you haven't seen this clip of Bill Clinton this afternoon comparing Obama to Jesse Jackson, watch:

-TOM BEVAN

8:22PM - Hillary Clinton has released a statement congratulating Barack Obama. It reads:

"I have called Senator Obama to congratulate him and wish him well.

Thank you to the people of South Carolina who voted today and welcomed me into their homes over the last year. Your stories will stay with me well beyond this campaign and I am grateful for the support so many of you gave to me.

We now turn our attention to the millions of Americans who will make their voices heard in Florida and the twenty-two states as well as American Samoa who will vote on February 5th.

"In the days ahead, I'll work to give voice to those who are working harder than ever to be heard. For those who have lost their job or their home or their health care, I will focus on the solutions needed to move this country forward. That's what this election is about. It's about our country, our hopes and dreams. Our families and our future."

- TOM BEVAN

8:20PM - Text of Charlie Crist's endorsement here. - TOM BEVAN

8:05PM - Some talking heads tonight have speculated that Obama's massive victory with black voters mixed with his low share of white voters may undermine his strategy of appearing as the "transcendent" candidate, who can appeal beyond racial lines. The two big caveats that suggest South Carolina could be simply the exception are 1.) the heavy emphasis on race between Obama and Clinton over the last several days; and 2.) Obama's victory in Iowa. We'll see. - BLAKE DVORAK

7:46PM - Obama's set his victory speech for 9 p.m. in South Carolina, and now it becomes clear why the Clinton campaign has already moved on. Bill Clinton has an event in Harry Truman's Independence, Missouri, while Hillary Clinton is in Memphis, Tennessee. Obama spends tomorrow in Macon, Georgia, and Birmingham, Alabama, two important Democratic strongholds to hit ahead of those states' February 5 primaries - REID WILSON

7:36 PM - Moving momentarily to the GOP race, CNN is reporting the Florida Gov. Charlie Crist will endorse McCain tonight. - BLAKE DVORAK

7:35PM - Take that, Claire: "We're going to win in Missouri," said Rep. Shelia Jackson Lee, Texas Democrat who is backing Clinton. She-Jack, as she's known on Capitol Hill, was on MSNBC opposite Missouri Senator Claire McCaskill, who's become one of Obama's leading surrogates. - REID WILSON

7:31PM - In an effort to downplay her impending loss tonight, Clinton campaign communications director Howard Wolfson released a memo earlier today looking ahead to Florida. The Clinton campaign used RCP's numbers to point out Obama's lead of 12 points, and it won't look good if she loses by much more than that. The Clinton camp could have downplayed even a ten-point loss, but a big margin of defeat is going to be splashed across newspapers around the country, and no amount of spin gets them out of a very bad day tomorrow. Delegates or not, Florida may suddenly matter. How big will Obama's bounce be? - REID WILSON

7:24PM - NBC News is reporting that Clinton will come in second, Edwards third. If that holds up, and it was based on exit polls, one question then becomes how badly did Edwards lose. It's unlikely he'll be embarrassed as he was in Nevada, where he got just 4%, but the big losses are beginning to mount for him. - BLAKE DVORAK

7:22PM - Obama definitely caught the late break. 56% of those who decided today voted for Obama, 23% for Clinton, 21% Edwards. Of those deciding in the last 3 days, Obama 46%, Edwards 32%, Clinton only 19%. - TOM BEVAN

7:15PM - African Americans made up more than 50% of the electorate, roughly 10 points higher than previous South Carolina primaries. That's an important message the Obama campaign can use for an electability argument: Forget independents for a moment, Obama can draw out a much larger percentage of the Democratic base than most other candidates. - REID WILSON

7:06PM - Full exits at CBS News. - TOM BEVAN

7:03PM - Obama winning 24% of white voters. No gender gap among African-American voters. Among white voters, Edwards won white males 44, Clinton 28, Obama 27. Clinton won white women 42, Edwards 35, Obama 22. - TOM BEVAN

7:00PM - All networks calling it immediately. Wolf Blitzer projects "strong" victory. Shep Smith says Obama holds "commanding" lead. - TOM BEVAN

6:35PM - Fox News exits: Obama winning black vote 81-19 over Clinton. White vote is Edwards 39, Clinton 36. Obama winning on issue of economy 51-30 over Clinton, with Edwards at 18. - TOM BEVAN.

6:32PM - Some more exit poll nuggets from ABC News:

Preliminary exit poll results indicate that just over half are blacks this year; if that holds in final data later tonight, it would be the highest turnout among African-Americans in any Democratic presidential primary at least since 1984.

Turnout among women is high as well -- they account for six in 10 voters, similar to their 57 percent share in 2004 and higher than their 52 percent in the 1992 exit poll. (There were no South Carolina Democratic primaries in 1996 or 2000.)

- BLAKE DVORAK

6:15PM - The State has an AP run down on the first wave of exits. Some highlights:

Given three choices, half the voters said the economy was the most important issue facing the country - up from 38 percent in the only other competitive Democratic primary to date, in New Hampshire on Jan. 8. About a quarter picked health care, comparable to New Hampshire. Only about one in five picked Iraq, down from 27 percent in New Hampshire.

As expected, about half of those voting on Saturday were black.

Nearly six in 10 of those voting said former President Clinton's campaigning in the state was an important factor for them, including a quarter who called it very important.

After the contentious Democratic debate Monday night, three in four Obama voters said Clinton had attacked Obama unfairly and slightly fewer than half accused their own candidate of attacking Clinton unfairly. Two-thirds of Clinton voters said Obama attacked her unfairly and nearly as many said she attacked him unfairly. Edwards voters were more likely than either of the other candidates' supporters to say both Clinton and Obama attacked each other unfairly.

- TOM BEVAN

6:11PM - In addition to the Clinton memo Tom noted as a bit of expectations lowering, Hillary won't even be in South Carolina tonight. She's off to the Feb. 5 state of Tennessee. - BLAKE DVORAK

6:05PM - South Carolina's biggest newspaper, The State, has updates on its 5 Keys to Win. - TOM BEVAN

6:02PM - Polls close in less than an hour. Get real time results here. - TOM BEVAN

6:00PM - Halperin has the goods on last minute negative phone calls from the Clinton campaigns hitting Edwards, as well as the Edwards campaign's response. - TOM BEVAN

5:56PM - Chris Cillizza has thoughts on tonight that are worth reading. - TOM BEVAN