The Storm (and no one will admit this) was the evry best thing that could happen for Obama.
1. It takes the attention away from Libya and the Economy, and puts it on the Storm and the Storm Cleanup, where Obama can do literally nothing, and still gain by "looking Presidential" and "looking compassionate".
Instead of having to answer anything about the various scandals, and the (IMO) politics-based cover-up of what happened in Libya and who did what when in the Administration and chain-of-command, the President now effectively gets a free-ride till past election day, with FOX/Radio being the only exception, and exception that won't effect the vote.
2. It freezes Romney out, and freezes him in place. Anything he does from now till election day will be portrayed as craven politics in a time of real human tragedy. Just look at how his clothing/food drive was treated by the media.
3. Christie, by playing his own political long-game for 2016, and giving the President such over-the-top praise, serves two purposes, both great for Obama.
First, it makes Obama look very Presidential and "Bi-Partisan" in a time of need. It gives the media something to chew on for the next week, the "Obama the Saviour who even Christie can love" man in charge and in control and trustworthy.
Second, it provides a very stark differentiation between Bush/Katrina and Obama/Sandy, even though if you really went down the list of actual actions taken by the two Presidents in both situations, you'd be very hard pressed to find any material differences in their actions and directions.
4. It gives Obama two new, powerful temporally, talking points:
First, Americans crumbling and poorly invested infrastructure, i.e. if only we'd have spent more and built more (by Government), much damage and much life would have been spared.
Second, Global Warming/Climate Change and the Future of SuperDeathStorms. Despite the fact that a number of climate scientists have come out publicly and stated that Climate Change was not a factor in Sandy forming or it's path, a number of others are clearly using every weather event as "proof of climate change as end of world" to push that agenda in terms everyday people can understand.
5. Finally, although it may damage voting due to the devastation, it does so only in very strongly (D) States that will not be won by Romney regardless, and could even be used as a talking point/proof for why ID's aren't required a la "look at New York and NJ, they were able to still have a perfectly fraud free election despite the devastation, and they didn;t have to show ID's!!!"
Frankly, in pure political terms, Sandy was possibly the best thing that could happen for the sitting President. It's political effects are all positive, the media will reinforce all the positives and raise no negatives, storm-related or otherwise, and Romney is not effectively silent for the last two weeks of the election apart from his TV ads.
I thought the election would be close, with an Obama victory. I still think it'll be sorta close, but I'm confident now that Obama will will handily in electoral college terms.
Better start working for 2016, the Christie v. Clinton election.