It's hard to know which party should be happier - Sinn Fein or the DUP. Sinn Fein doubled its Westminster seats and displaced the SDLP as the North's major nationalist party. The DUP went from 14 to 23 per cent support to become the second-largest party in the North, with three new Westminster seats.
So how did Sinn Fein and the DUP do it? First, their candidates are generally more dynamic than their opponents. In North Belfast, the DUP ran Nigel Dodds (42), one of unionism's most articulate and intelligent figures. The sitting UUP MP was Cecil Walker (76), who made weak television performances and repeated vote-losing comments about a united Ireland. The UUP vote fell 40 per cent and the DUP beat Mr Walker by almost 12,000 votes.
Sometimes, one party presents a more youthful image than the other. SDLP leaders are in their 60s while Sinn Fein leaders are in their 50s, yet Sinn Fein presents a more modern, dynamic image. When the SDLP runs young candidates, many are from prominent party families but are relatively unknown in the wider community.
The party predicted its Mid-Ulster candidate, Eilis Haughey - daughter of SDLP junior Stormont minister Dennis - would increase its vote. She was no match for Martin McGuinness and actually polled 3,000 votes fewer than her father's tally in the 1997 election.
Both Sinn Fein and the DUP are dedicated constituency workers on social and economic issues. The UUP and the SDLP suffer from bourgeois images and poor internal organisation. They became complacent during the Troubles; the IRA campaign ensured Sinn Fein would never overtake the SDLP. The UUP took it for granted that a majority of unionists wouldn't prefer its fundamentalist rival.
But apart from the Rev Ian Paisley's denunciation of line-dancing, the DUP has considerably changed the tone - if not the content - of its policies. During the Westminster campaign, it talked of "renegotiating" the Belfast Agreement. A few years ago, the slogan would have been of "smashing" it.
Sinn Fein's changes have gone beyond linguistics. It has shed much of its traditional republican baggage. It has stolen SDLP clothes but wears them in a livelier and sexier fashion. As with Fianna Fail in the 1930s, its leaders have the whiff of past revolutionary deeds while on the constitutional road.
The ending of the IRA campaign has strengthened the nationalism of Catholic voters. "You can be as green as you like and nobody thinks you're a Provo," says an observer.
In the unionist community, there is considerable opposition to the Belfast Agreement. Voters are unhappy about Sinn Fein in government without IRA decommissioning and about the proposed changes to the RUC. The DUP is in tune with this mood. UUP candidates who increased their vote - Jeffrey Donaldson, the Rev Martin Smyth and David Burnside - were notably anti-agreement.
In terms of internal organisation, Sinn Fein and the DUP are well in front of their rivals. Television pictures from the count centres showed the camaraderie in both parties. In terms of the party leaders, Dr Paisley's vote went up while David Trimble's fell. Gerry Adams and Martin McGuinness both scored higher personal votes than John Hume and Seamus Mallon, whose votes decreased.
While Dr Paisley took a lesser role during the election, allowing Peter Robinson and Nigel Dodds to appear on high-profile television programmes, Mr Hume remained at the forefront of his party's campaign. Anecdotal evidence suggests some nationalist voters were disappointed with his performances.
While policy or leadership changes could improve the UUP's position, the SDLP is in far greater danger. It emerged from the 1998 Assembly elections as the North's largest party. At Westminster 2001, it was relegated to fourth place.
During the election campaign, the SDLP refused to acknowledge that nationalist voters were increasingly identifying with Sinn Fein policies and candidates. Instead, it concentrated on opinion polls showing it comfortably clear of its rival.
The SDLP will have to face up to reality if it wants to halt the growing drift to Sinn Fein.