According to the CTV article Election voter turnout highest in 30 years 

About 120 million people cast ballots, or just under 60 percent of eligible voters — the highest percentage turnout since 1968, said Curtis Gans, director of the nonpartisan Committee for the Study of the American Electorate.

In the 2000 election, when Republican George W. Bush squeaked out a win over Democrat Al Gore, slightly more than 54 per cent of eligible voters, or about 105.4 million, voted.

Gans said the modern record for voter turnout was 1960, when 65 per cent of those eligible cast ballots to back Democrat John Kennedy over Republican Richard Nixon.

More detailed figures were expected later Wednesday.

Still, despite the high turnout, 2004 did not prove to be a breakout year for young voters.

Exit polls indicated that fewer than one in 10 voters who came out on Tuesday were 18 to 24. That's about the same proportion of the electorate as in 2000.

It looks like P. Diddy's Vote Or Die campaign didn't get the MTV demographic out after all. However I was quite amused to see him as one of the election pundits on MSNBC last night.