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It's not as if we didn't know, but honestly -- not sarcastically-- I do question the timing of this announcement.
For another, the liberal media will now chalk up his terrific speech to mere self-interested, possibly cynical political positioning for 2008. All the good his great speech did just went virtually out the window.
1 I think Giuliani is a great guy and a great NYC mayor. But he has had a love affair with press cameras throughout his stints as Federal prosecutor and mayor of New York. Subordinates got none of the credit for the significant things that they did. Bill Bratton, who pioneered computerized maps to hold precinct commanders accountable for fighting crime, quit over Giuliani's hogging of the limelight.
2 Bah, don't rain on his great speech. Guliani's speech was all about George Bush (compare his to McCain). He made an eloquent case for Bush's re-election.