I think there is very little chance of the Repubs holding onto the Senate. *knock on wood* it is almost guaranteed that Webb will be declared the winner based on previous recounts in recent Virginian history.
But, to answer your question, the House is actually more of a thorn in the executive branch's side. In the senate, you need at least 60 seats to be able to rule the roost there. A simple majority doesn't really accomplish too much, but it's good to have. The house can be a more powerful balance on the executive branch because the speaker of the house has absolute power to set the agenda. What votes come up on the floor and what order are all determined by the speaker. Additionally, committee chairmanships, sopena power, etc. will all be wielded now by the democratic party.
The Senate is a more powerful check and balance on the Judicial branch which is also good news. Let me look around and I think I can find some links to some more info that probably explains it a bit better.
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