I agree that Bush's main site is better, but I think John Kerry's isn't that bad. At first glance, Bush's front page is almost sensory overload; Kerry's site is more lean and down to business.
I do think that Bush's site sells himself better, though, since once you get over the initial sensory overload there's a lot more information present and visible. On Kerry's site you need to dig a bit more, which is actually a very bad thing, given how impatient web users tend to be.
Given that I've done quite a bit of web design myself, I found that an interesting thing to look at.