I used the word "honor" facetiously...should have used quotes.
When it comes down to it, it doesn't really matter who win's Time's "man of the year" designation -- it isn't the Nobel Prize, right? Like greyfan said, it's just the opinion of editors, like all the other "man of the year" awards.
Who would you guys choose, instead? I like Bi-Polar's idea of the children who have been touched by the war being named. I probably would choose Howard Dean for bringing people together whose opinions were vilified earlier in the year as being "Anti-American," and instead making them a force to contend with.
There are probably hundreds of appropriate choices on both sides of the force.
Here are some dark-side contenders.