With 301 electoral Collage votes solidly predicted and a statistical 80% chance to re-election, Obama/Biden have closed the deal. Obama's campaign is far to smart to allow any massive (I mean 300,000 ton kind of massive) gaff's to take place. Not to mention that Obama is himself the smartest man in the room, making such a possibility a near impossibility. Let's face it, and Obama gaff is less likely than a chimpanzee writing Hamlet before the election.
The real question now is what will happen to the Congress. Dems will surely keep the Senate, even gain at least one seat. The House is a little different. Let's face it, all bets are fair game here. The "Obama" effect remains to be seen if it will translate into gained seats in the House.
IF, and that is a solid if, the GOP were to loose majority in the House, this would most likely translate into a resounding defeat of their entire economic and social policies bring the old guard to either wrest control of the GOP or drive them out and leaving it to the extreme right to further extreme right doctrine. Thus farther from the main stream of America.
In this election, we are looking at sending the Republicans loss of power for the next generation. With the near certainty of Hillary running in 2016, with her undeniable popularity, the Democrats social and economic juggernaut will overshadow everything in DC, and by extension, American and the world for the next 40 years.