Personally, I was a little underwhelmed. I thought Cameron swatted Miliband aside with the supreme arrogance you expect from a Prime Minister.
Some people say Cameron doesn't do detail, but i hardly think he would have got through a top, top uni, worked at the Treasury, made the shadow cabinet in 3 years, written the manifesto, lead his party and become prime minister if he couldn't do detail. he can.
some people preferred Ed Miliband's measured approach, but i thought Cameron's swatting him aside made him look more impressive. I don't tend to think of arrogance as a bad thing at that level, I'd sure as hell be arrogant if i was a top ranker in any line of work.
it will be interesting to see which side the public takes, if they care at all. once the cuts start to bite, or the government start going back on their slash and burn rhetoric, then people will form a clearer idea. if the Tories implement these awful cuts which people blame Labour for, then the Tories will win the election. if people blame the Tories, then they are royally fucked.
on the deficit, Gordy fucked up in that he spent too much before the crash. however, the larger (largest?) part of the deficit was due only to bailing out the banks. if i am wrong i take it back, but such is my understanding having looked at the (or some, not sure) figures. if i'm right, banks should be paying it back in windfall taxes and direct tax on incomes and bonuses. the whole banking and financial system benefitted from the bail out, even those not directly bailed out. they should be where the money comes from. the structural debt, i.e. that Labour spent not on the deficit should be filled, i have no problems with that. some would do it through cuts, i'd do it through income tax on richer people. if that means they leave then the middle might face some pain which is unfortunate. but i would rather have a country re-balanced more fairly than the rich running riot.
i would look at benefits and the public sector, but i very much doubt anyone goes into politics wanting to reward those who don't deserve it while the hard working foot the bill. i think it is an unfortunate side-effect of the system, and one cheap stunts and harsh rhetoric won't solve.
i think the structural deficit and the money spent bailing out the banks should be dealt with separately.
the deficit issue needs a long bit because it's the defining issue of our times and any opposition to what the government does can be met with "it's all Labour's fault, what would you cut?"