The Drudge Report is currently running this picture along with a link to the story on George W. being picked as Time's Man of the Year. I like how it only shows images of two other Presidents who also received the mention, as though its only a positive honor.
That said, while I would have preferred that "bloggers" were picked as "people of the year", or even Michael Moore and Mel Gibson as "filmmakers of the year", Bush has indeed been the man most responsible, for better or worse, for the headlines and general discussion for 2004.