I would argue that the 2004 election was the high water mark of the George W. Bush presidency. It reinforced Karl Rove's goal of cementing a permanent Republican majority, and in the president's first press conference following the election, he boasted about his mandate -- his political capital. Going so far as to pull the "no follow-up questions" dick move with the press -- as if the press hadn't already been ridiculously deferential to that point anyway.
President-elect Obama's victory margin is twice (so far) that of George W. Bush's in 2004. Three percentage points for Bush in 2004, six points for Obama in 2008. And a significantly wider margin in the electoral college.
Given the natural advantages of being George Bush (white, establishment family, the name, the incumbant 'war president') and the natural disadvantages of being Barack Obama (you know the list), this margin of victory is even more significant and remarkable.
Adjusting for these factors, this six point victory feels like 60 points.