What Romney does have going for him is that American voters put the economy number 1 on their list of voting priorities, and Romney's favorables are higher, I think, than Kerry's were in '04. These two factors explain why the Obama camp is going negative this early, to divert attention from the economy and drive up Romney's unfavorables. It's also why Rove is calling the Obama strategy "gutter politics"--he would know, it's right out of his playbook.
Except Obama Campaign has essentially leaked that the Bain attacks are strategically laying the groundwork for attacking Romney's policies so it's not diversion at all, it's set up for who a conversation about whose policies benefit whom. Obama actually gave a long speech about the economy and had trouble getting the media to focus on anything besides how long it was. Every time the talk turns to Mitt Romney the Romney Campaign cries that it's a distraction. Who's diverting attention? Pointing out that Mitt Romney is hiding something by failing to release his tax returns like everyone else who has run for president is not exactly the same tactic as lying about John McCain having an illegitimate black baby to a racist electorate.
On the OT: some people who disapprove of Obama will vote for him anyway.