Is John McCain a "Natural Born Citizen" of the United States?

The Republican nominee was born to American parents in the Panama Canal zone. Does that make him a "natural born citizen" of the United States, as their constitution requires the President to be. (In Canada, of course, we have never had a Canadian-born head of state. The first Canadian-born PM was over almost thirty years after Confederation, and the first Canadian-born Governor General nearly a century after.)

Anyone thinking of doing a comprehensive analysis of the point is going to have trouble competing with Larry Solum's here.