This also shows the problem for the GOP. Folks hate the Congressional Dems, but like the Congressional Pubbies only a bit more. Obama is less popular than any modern president since Reagan, but like Reagan he inherited a shitty economy. Remember how popular Reagan became? I'm not ruling out the possibility that Obama is intentionally destroying the country (as per Saul Alinsky's cookbook for radicals and community organizers - but I repeat myself) but assuming he's not, the economy will almost certainly measurably improve by 2012. He has almost all the media on his side, most of the big money, and hundreds of billions to buy votes and simulate a recovery. Therefore in 2012 the Republicans have to have someone who not only is not Obama, but who also is someone the people like and trust, at least with the economy. I can't think of anyone that really fits that bill, and any unknown would have to become known via the press and the popular media, almost all of whom will still be hysterically pro-Obama in 2012. Neither 2010 nor especially 2012 will be a cakewalk for Republicans.
Plus, we all (for reasons of race relations if no other) have a certain amount of vested interest in Obama's presidency being considered a success. If he loses in 2012 to anything less than another Reagan (or another black) then many blacks will still see America as a racist nation where they won't be allowed to get ahead so why try, why not just sponge off the system? Beating Obama has its good points, but is likely to have its bad points as well.
Besides, I'm not at all certain we can keep this country going at its present rate until November 2012. We may be faced with something really, really ugly before America makes that choice.