I was reading Moe Lane's analysis over at RedState and he seemed to think that it went swimmingly well for Wallace and that Stewart was on the ropes from the very beginning. He finished his commentary with this:
Watch the whole thing; it’s fifteen minutes of pure political entertainment, and Stewart probably should have quit about eight minutes in. Mostly because Wallace maneuvered him into a position at the end where Stewart himself had to admit that conservatives are routinely attacked - INCLUDING BY HIM - for a variety of things that we, in point of fact, are not actually guilty of. Which would have been… nice… of him to admit, except that nowhere did Stewart actually promise to reform his ways.
I wasn't entertained. I found the whole thing predictably annoying. I was mildly surprised that Stewart did give up that small amount of ground at the end, acknowledging the patently obvious, but really...big deal. It was fifteen minutes of proving what everyone already knows: That the media is overwhelmingly biased toward the left, that the media routinely lies about the right, yada, yada, yada.
The time would have been better spent with one of the presidential candidates. That might
have provided an opportunity to learn something previously unknown.