[Deckard]

Fwiw, I guess my own take is:

Does Obama deserve some sort of recognition?
Yes. An enormous amount. Even going back to the primaries.

Does he deserve the Nobel Peace prize?
No. And his press briefing was quite graceful in acknowledging this, I thought.

Will this help him?
Politically, it's doubtful. I suppose it may help 'the world' if it bears additional responsibility down on his shoulders as a peace-maker, which seems to be what the Nobel committee had in mind. (Of course some would argue that, in some situations, the absence of action may be just as damaging to world stability). He already commands a great deal of respect internationally, so I don't see how this award can add much more than already exists. As for domestically...

Will this hinder him?
Yes. Certainly in the US, where - short and long term - it seems to be perfect ammunition for ridicule. Which is a shame, because it's normally something to be immensely proud of. Overseas, will it hinder him? Only if he fails to live up to expectations, which is not unlikely. If he some day becomes known as a warmonger, the award may come to be viewed with the same disdain as Kissinger's.