Well, it was put out there by someone. So, to my mind, there are two angles: is the story about the affair true, and who planted this one and why.
FWIW, I notice that the Breck Girl has not come out with one very po'ed, vociferous, and adamant denial. Interesting, that. Also makes me wonder if it's because there's more than one wench involved and Edwards isn't sure which one he needs to issue a non-denial denial on.
Note to Mrs. Edwards: If this story ain't true, why the HECK aren't you screaming bloody murder? And if the story is true...Sigh. Lady, you need your head examined for staying with that guy.
I'm sure they'd rather keep this whole thing as quiet as possible and say, if asked, that they don't want to give any credibility to the rumor by reacting to it.
If a vicious rumor surfaces, the subject of it has two choices - keep it quiet and hope nobody notives or loudly voice denial and raise the visibility of the rumor.
If the story stays in the tabloid world, Edwards can probably ignore it and get away with it. If it works its way into the MSM, he may switch to a vocal denial or he may continue to stonewall the way the Clintons generally did.