Unfortunately, I'll have to agree with the Republicans on this one. The Democrats made the mistake of re-nominating their own crooked Republicrat instead of coming up with a viable candidate, but waited until it looked like he was going to lose to change horses. William Safire makes the case pretty clearly in the NY Times today. I dread the prospect of a Republican-controlled Senate, but when you realize that the "Democrats" include Torricelli, Lieberman and other warmongering corporate drones, the sad news is that we already have a Republican-controlled Senate. By the way, Jersey's other "Democratic" senator is former Goldman-Sachs executive Jon Corzine, who may have his own scandal to deal with soon.
While I don't think that the Democrats should be allowed to change the name on the ballot, I think that this case highlights the bankruptcy of the two-party system. There was no real choice between Torricelli and Forrester, except maybe that Forrester is honest enough to admit that he's a Republican. With a dynamic multi-party (or no-party) system, the withdrawal of a single candidate would not remove all semblance of choice from an election.