High value targets? the point of going into fallujah was to kill a large nubmer of terrorists and to leave them with no solid base of operations in the country. Both of those objectives will be achieved. I don't recall anyone ever saying Zarqawi was even necessarily in Fallujah or that we'd capture him. This is like Kerry saying Afghanistan was a failure because we didn't get Bin Laden. It's a war, not a criminal investigation.
Scattering the insurgency limits their organizational, communications, and operations abilities. I think the US made a big mistake not launching this attack in the spring, but only the people rooting for us to lose this war won't see this is a positive development. It's not a turning point, but it's a positive development.
The left's entire Bush-hating existence depends on nothing going right for Bush and by extension, the army. I want to know what Kos will say if a stable democracy is established there, he'll probably say "oh, well what does that achieve, we just pushed the terrorists into another country and we'll have to fight them there".