So far I'd say Obama is a mediocre President. He's been better than Bush 1, Bush 2, Carter, Nixon, Ford. Worse than Clinton. And about equal to Reagan. Though that's actual Reagan, not the current GOP image of Jesus Reagan.
He's continued too many bad policies of the Bush admin. Should never have allowed continuing the Bush tax cuts or Patriot Act. I'll give him credit on not caving in a few times more recently such as the pipeline, but he definitely caved a bit too much early on. I am however in support of the few good Bush policies (the 3 or so he had) that Obama continued, such as the auto industry bailout that began under Bush.
As far as the Affordable Healthcare Act, my main issue is that it's far too weak and didn't do enough. It's an overly complex bandaid on a patient that is bleeding to death from a gaping wound. Though I blame all sides on that. Republicans for refusing to work together with Democrats and being the most obstructionist minority party in the history of the US Senate. Democrats for holding out for special treatment for their district despite having a super majority. Obama for not putting his foot down on the bullshit that was going on in Congress.
Part of Obama's problem with his Presidency oddly enough is the opposition party. During his first two years the Senate minority party obstructed Congress more than any 3 terms of the Senate combined in the history of the US. It's the only time in history where a leader of the party came out and admitted they'd rather see America fail than work alongside the President. I can't fault Obama for that because it's not his fault the GOP has turned into the worst political group of human beings ever to exist in this country (I would say worst group, but Charles Manson had too many followers).
In the end part of the problem with Obama's Presidency is simple stupidity. He's not a great President, he probably ranks in the lower tiers of good so maybe he's an OK President. However, your average Fox News viewer/Rush Limbaugh listener is has an intelligence level just slightly above a semi-retarded parrot. They can repeat what they hear but don't have the capability to know what it means or think for themselves. I think thanks to Rush, Hannity, Beck, etc that Mike Judge's vision of the future will become correct and we are heading quickly towards Idiocracy.