Once again, Andrew Sullivan seems to sum up my points. I recommend everyone read his excellent blog post on the subject.
I am still enamoured with Barack Obama. He's done everything I hoped he would do in office, and his hand has been ever so steady on the tiller. Through bank failures and tea parties and exploding briefs, he's kept the US on a straight, sensible course. He's issued a withdrawal from Iraq. He's kept his promise on giving Afghanistan one last kick at the can, and not hanging his NATO allies out to dry. He's made some small steps forward on LGBT rights, if not all of them (I have faith he will eventually repeal DADT, I still do, yes I do!).
He's slowed and probably ended the global recession. Not just with his stimulus, but by coordinating the largest international spending plan ever with the G20 nations. He's won the Nobel Peace Prize - not because he was a leader of a peace conference or a great icon for decades, but because his very inauguration crept us away from the brink of eternal war with the Islamic world. Al Qaeda's reputation in that world is soiled and damaged, thanks to Obama's careful handling of many situations.
Yes, there have been some failures, and many difficulties, but Obama inherited a difficult job from an inept leader who had been unable to handle the situations he was so misfortunately handed. Overall, I think President Obama has been quite a good one, certainly better than George W. Bush, probably better than Bill Clinton and George H. W. Bush as well. We shall now see how his second year fares.
Good luck, sir.