This recent Daily Show peice with John Oliver sums up my feelings about the inauguration of Obama pretty well. It appears that the president is indeed following through with some of his promises. I believe ‘cautiously optimistic’ is an appropriate phrase.
Update: Politifact has created a really nice list of 500 promises made by Obama. They will be updating the status of each of his promises (no action, in the works, stalled, promise kept, compromise or promise broken) during the course of his presidency.