AREA RESIDENTS RELIEVED AT REVELATIONS.

Byline: Deborah Sullivan and Lisa Van Proyen Daily News Staff Writers

San Fernando Valley-area residents heaved a sigh of relief after President Clinton's televised address Monday night, voicing hope that a seven-month-long investigation into the president's sexual conduct can come to a close.

Although they were divided about the seriousness of his actions and its likely impact on his presidency, most said they were glad he finally spoke up, and look forward to getting on with the country's business. Taking a break from a workout at World Gym in Woodland Hills, Melody Bloom broke out in applause at the end of Clinton's speech.

``I'm glad it's over!'' said Bloom, of Woodland Hills. ``I'd like to go on with the new century and not be distracted by that kind of stuff. The speech was splendid.''

Mike Madrid, political director of the California Republican Party, said he also hopes Monday's events will allow Clinton to return to running the country, but said his effectiveness will be vastly diminished.

``I fully expect Bill Clinton will finish out his term as president,'' he said. ``Unfortunately he will finish it with a much lower status than when he came into this office.''

``Whenever it takes $40 million, four years and a training coach to tell the truth, you can't expect that this president is going to inspire anybody, or achieve an agenda.''

At World Gym, dozens of people peered up at eight overhead TV sets, slowing their pace on stationary bicycles and step machines or stopping their workouts entirely to listen to Clinton's brief speech Monday.

For Woodland Hills resident Kenny Sampson, 35, himself a writer, the speech was a masterful work of language.

``Every word counted,'' said Sampson, after watching the speech from a stationary bike. ``It was a major impact speech. Extremely well delivered. It had to be because everybody would be watching. It was like the Super Bowl. . . . Now, he should be able to move on with his career and life and run the country.''

Though for some the speech signified the beginning of an end to the months-long inquiry, for others, Clinton's words left more questions.

``I think he changed the subject toward the end,'' said Farid Aframian, 18, of Woodland Hills.

``He said it was a personal matter and that it's basically not any of our business. When he's the president, he's supposed to be the representative of the people, so when he addresses us, we should know everything about him personally and business-wise. He didn't come out and say exactly what he did.''

Woodland Hills resident Jess Cooper, on a stationary bike nearby hollered out in response: ``Do you want to know the gory details of that? It's a waste of taxpayers' dollars when all that money could have gone to fight famine and terrorism.''

David Aloisi, of Bel-Air, said Clinton's speech did not make him any more credible.

``It's not acceptable for anybody. You'd expect somebody in a position like that to have better judgment and a better sense of what's right and wrong,'' Aloisi said.

Bob Mulholland, campaign adviser for the California Democratic Party, said in an interview from Sacramento that Americans will forgive Clinton's transgressions in light of his success on the job.

``I think it will be one part of a very successful two-term presidency,'' Mulholland said. ``Balanced budget, lowest inflation rate, highest job numbers. Even gas is a buck a gallon. Who can complain? To the Republicans, it may look like a big thing, today, tomorrow. But it won't be.''

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Photo: (color) no caption (Hillary and Chelsea Clinton)