No? He wasn't hailed as the next great wave, of fulfilling the left's destiny? Ushering in a new wave of progressive policies driving American Awesomeness the likes of which we've never seen before?

Sure, there were people who thought that, especially at the beginning of his term. Lots of people don't understand how the government works, and didn't appreciate: i) that the Democratic coalition extended into more conservative members (like Bart Stupak or Joe Manchin) that weren't especially progressive; and ii) although the Presidential election draws the most focus, the President only has so much power to effectuate legislative change. Which is why so many progressives were disappointed (and disillusioned) that the ACA didn't have a public option, to say nothing of the other compromises and limits that ended up in the final bill. Or the complete demise of the climate change bill. They thought that electing Obama would mean that they would be completely ascendant, but that's not how American politics works.

Winning a Presidential election doesn't give you the power to make all the changes you want, no matter how big the win.