UPDATE: More thoughts from Russell Wardlow. And I didn't realize it -- somehow CBS missed the story, I guess -- but the Bush-volunteered story actually came out in February.
ANOTHER UPDATE: Shockingly, this was even reported in Newsweek:
The standard rap against Bush is that he was ducking combat by joining the Guard. Actually, the Texas Air Guard had a program called Palace Alert that allowed pilots to volunteer for flight time in Vietnam. Three of Bush's fellow pilots—Udell, Woodfin and Fred Bradley—recalled to NEWSWEEK that Bush inquired with the base commander about signing up for Palace Alert. He was told no; he had too few flying hours at the time and his plane, the F-102, was by then deemed obsolete for air combat.
Funny that this hasn't gotten more attention. Does anyone read Newsweek?