I don't understand why people are saying a Republican will beat Obama now, this should be the greatest incentive for his re-election in 2012. The armed forces-controlled by Bush-hunted him for five years, but under Obama, they found him and killed him within two years. I think this is a bad thing for the GOP.
On paper, you'd be right. However, Republicans are just better at the whole patriotic rally-round-the-flag stuff than Democrats. As soon as they can find a way of taking credit for this, they'll use it.