1. 2012 was not a narrow Democratic victory by any means. Obama won the national popular vote by 3.9% (RCP average was +0.7 nationwide for Obama), and he won every swing state except NC, which he lost by 2%. Amongst the swing states he won, aside from Florida, Obama won all the others by 3%+.
Historically speaking, 2012 was a pretty close PV margin. The majority of presidential PV’s have been decided by greater than 5%.
However, the structure of the EC that year gave Democrats a substantial advantage, and Romney’s share of the PV was very inefficient. Romney was actually leading in the PV when the election was called for Obama, and most networks were even predicting that Romney would wind up winning the PV in the early morning hours of November 7.