So the writers for the two shows went to D.C. to stage a mock debate in Congress's Rayburn Building. Campus Progress covered the proceedings. There were several nice introductions from various (Democratic) members of Congress.
And then the debate began. Three writers from the Colbert Report played the AMPTP, and three writers from the Daily Show played... well... themselves. Former Clinton press secretary Dee Dee Myers moderated. Here are the highlights of the "debate". Be sure to check out what happens midway through! ;-)