An opinion piece in the WSJ today has a good summary of the problems with the Venezuelan elections.

Just before 4 a.m. Monday, Mr. Chavez's hand-picked CNE director announced that Mr. Chavez had won with exactly the opposite result of that indicated by the exit polls. As Dow Jones writer Charles Roth reported, the opposition said the "CNE didn't allow an audit of the paper receipts issued by the touchscreen machines, or allow opposition representatives to be present during its tallying of the vote."

If you can't get to the link above, I have the text archived here.