Long overdue. Also, last week Charlie Black, who was not only McCain's top campaign adviser but also the long-time chairman of Mark Penn's lobbying firm, resigned from Penn's firm to go work full-time on the McCain campaign.
Update: Changed title from Mark Penn Resigns to Mark Penn Sidelined. Sidelined (Ben Smith's words) is better way to put it. Penn is still with the campaign -- just in a less powerful role (at least officially).
Update 2: Changed "Sidelined" to "Loses Title." I like the way Ari Melber puts it best -- Mark Penn has lost his title. I tend to agree with dawnt: it's smoker and mirrors. Penn will continue to hold at least as much power as he did before losing the title.