Obama leading early in first Nevada Democratic caucus results

The first Nevada caucus results are in, and Barack Obama currently has a small early lead. Keep in mind that only a few counties are currently reporting.

Senator Barack Obama: 49.3%
Senator Hillary Clinton: 46.48%
Senator John Edwards: 2.82%
Congressman Dennis Kucinich: 1.41%
Senator Mike Gravel: 0%
Uncommitted: 0%

*As of 12:06 PM Pacific Time

According to the Las Vegas Sun, some of the Democratic conveners had to wait to set up their caucuses because the Republicans were using the same rooms:

One of the more amusing sights at Republican caucuses this morning was of Democratic volunteers watching nervously.

They weren’t necessarily worried about who would win the Republican half of the caucus, but whether the Republicans would complete their caucus in time so they could prepare for their election.

“We have to wait until they tear it down,” said Democratic volunteer Daylon Blind, 24. “I hope they do it as quickly as possible.”

The Republican caucus was scheduled to start at 9 a.m. — two and a half hours before their counterparts’ turn - but confusion about how to register, how to elect delegates and how to vote delayed the process, which party insiders had hoped would take just 30 to 45 minutes.

Not quite. The Republican caucus took about an hour.

It's too early to draw any conclusions at this moment. So while the pundits spin their rhetorical wheels furiously, we can sit back, relax, and enjoy the show.

UPDATE: Hillary Clinton now has the lead. The numbers are changing rapidly, so I'm only going to post occasional updates.

There isn't much to analyze yet, obviously.

Senator Hillary Clinton: 48.73%
Senator Barack Obama: 44.67%
Senator John Edwards: 5.58%
Congressman Dennis Kucinich: 1.02%
Senator Mike Gravel: 0%
Uncommitted: 0%

*As of 12:18 PM Pacific Time