I'm cool with Obama's first few steps in office to actually limit the power of the presidency. If he continues to go down that path, I'd not only change my mind about him but could see myself voting for him come 2012.
However, I don't see it happening. I think he's more interested in removing things that Bush did. Being the Anti-Bush means more to people. In my opinion, it won't be long before he starts pushing Universal Health Care and tax increases on the productive, both of which require more power, not less.
Something else that has puzzled me are the rabid, Bush hating Libertarians who have derided every last assault on freedom all of a sudden turn into starry eyed Obama fans. It's like they were never really Libertarian, but statists who simply didn't like the way the state's monopoly on force was being used.
I've always contended if you'd like to wipe out the Libertarian party, legalize pot. You'd never hear from 90% of them ever again.