Mader Blog has a fascinating lesson in American history:

Who was the last two-term president to succeed a two-term president?

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'two term' is defined in the most traditional, common-sense manner possible." It seems to me that the most traditional, common-sense definition of 'two-term' requires that a president be elected twice and serve two full terms. Any exception to that pattern - wherein a president served (nearly) two terms but was only elected once, or served less than two terms but was elected twice - would require an asterisk, and would therefore denote a 'qualified' two-term president.

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The last two-term president to succeed a two-term president was...

James Monroe, elected 1816 and 1820, who succeeded James Madison, elected 1808 and 1812.

[N]o president who has succeeded a two-term president of the other major party has ever gone on to serve two full terms. If President Bush wins this fall, he'll be the first man in American history - presuming he goes on to serve out his term - to accomplish that feat.