Farage gets to enter the political establishment, while Clegg has a chance to reconnect with those voters who warmed to him in 2010.
Miliband's northern fortresses are safe but Farage's party could prevent Labour winning southern and eastern marginals off the Tories in 2015.
The decision means the party will now be entitled to equal levels of TV coverage as the other main parties.
It will become harder for the PM to insist he can succeed when the europhile and the europhobe both declare he will fail.
"How can you be both a Muslim and an English man?" asks activist at meeting the party tried to keep reporters out of.
As the blue collar modernising group warns, a deal with UKIP would alienate the centrist voters that the Tories need if they are to ever win a majority again.
If the party wins upwards of five per cent of the vote in 2015 but fails to win a single seat, our voting system will be called into question again.
Labour has learned lessons from the Lib Dem campaign in Eastleigh last year.
Farage is relying on misconceptions about the scale, purpose and outcomes of aid spending to argue for this cynical raid.