While the actual viewing of the debates is less then could be hoped, the impact can be significant. The press reports on how they think it worked out, and the public impression created by that does have a significant impact on the wavering voters.
This is why the minimize the expectations game is so important. If you can convince the press to say your guy did better then expected, despite doing badly, it can come off pretty well because the undecided are often basing their impressions on second and third hand reports.
As for comparing it to Dole, it should be remembered that Dole was tilting at windmills from the start. Despite Republican fury and thunder, Clinton was very popular with the public his entire time in office.
Jay