Some are still euphoric, some are still somewhat sober, some are both.
It's a bad time to inherit the presidency.
Obama's win, however, is not only fundamentally historic, but it represents a historic cachet of goodwill throughout the world. He has already flagged positions that are far more enlightened than Bush's. And so most of the world seems to have cheered his election; the responses of world leaders on the whole is a level above the form-letter congratulations.
Much more can be achieved by working together than through belligerence. Iraq notwithstanding, there is enormous potential in what Obama can achieve internationally.
And domestically. Not only was Obama's campaign the best funded in history, it was also packed with a huge mass of volunteers. There is a great corps of people who have already demonstrated their commitment to change. Obama began his career as a community organiser; now he can surely tap into what must be one of the largest grassroots corps ever, as supreme community organiser.
He has shown himself capable of drawing people together. Now to guide their co-operative spirit.
(I note that in an odd but meaningless coincidence, that Obama is a scant five days older than the incoming Prime Minister of New Zealand, John Key, who was elected three days later. Because transition is much quicker in NZ, Key will be in the driver's seat earlier.)