My basic emotion is relief. The skill of an Obama administration has yet to be proven. The structure of our government will prove a more able opponent of change than John McCain. But for the first time in years, I have the basic sense that it's going to be okay. Not great, necessarily. And certainly not perfect. But okay. The country will be led by decent, competent people who fret over the right things and employ the tools of the state for recognizable ends. They may not fully succeed. But then, maybe they will. At the least, they will try. And if they fail in their most ambitious goals, maybe they will simply make things somewhat better. After the constant anxiety and uncertainty of the last eight years, maybe that's enough.
Not euphoric. Not excited. Not in awe of the US for finally getting round to having someone non-pasty in power.
If he succeeds fully, given the US's current condition, he will deservedly be one of the top five presidents.
And if he doesn't, if he's a reasonably competent right-of-centre politican (what passes for liberal in the US) struggling with nearly insurmountable problems, at least he'll be someone decent trying to do something worthwhile in a vital position.
Which will make a huge change in itself.