There has been a LOT of feedback and discussion since the announcement. I find myself quite torn about the issue as well. My initial reaction was similar to a lot of the critics of the award - "it's too soon", "what has he actually done or accomplished", etc. I even considered that by those standards that I, a supporter of Obama who voted for him and share his "vision" on the criteria for which he received the award, am equally qualified and should receive the award as well.
Which led me to consider that, to a certain extent, I did receive the award, as did all of us who truly hold the same vision of peace and nuclear disarmament. The difference between myself and President Obama is that no one knows me and while he enjoys the perks of his status and celebrity, he still made the choice to enter the very public world of politics and to take a strong stand.
I still have a large feeling that this is too soon but after researching more about the award, which was never granted to Gandhi (even after five nominations), I realized that the Nobel Peace Prize committee deserves more of the criticism because of their misguided adherence to awarding only a "living person" or organization.
In addition, a review of past recipients includes several who received the award for their efforts to "achieve peace in the Middle East" or for "a more peaceful world". Based on results, these individuals did not achieve anything either, so perhaps they were undeserving as well.
Other recipients, while I personally feel are qualified and deserving, received the award for efforts to peace, development or humanitarian work in small, isolated, or unknown countries or areas. Their contribution was vastly significant to a miniscule number of people in the world population. Most accounts of Obama at least grant the fact that he has improved the international image of one of the largest and most influential nations on the planet and that he has become an international figure of hope and inspiration that people everywhere can do and be better. By that measure, his contribution is more far-reaching than recipients whose work is limited to a smaller segment of the world.
Are there other people more deserving? I would say absolutely. But maybe they are unknown or not nominated. Is Obama undeserving? I would disagree. Obama and other leaders in the same mold inspire me (and I believe others) to believe that the world can be better. Is it too soon? I can only put it into context of Gandhi. If my biggest fear had been realized and Obama had been assassinated during the campaign or after taking office and the Nobel Prize committee used common sense and awarded the prize to a deceased person, I don't believe any of the negative criticism of the choice would even exist. Most people would call him a hero, martyr, inspiration, etc. But, like Gandhi, if Obama had died or been assissinated we wouldn't even have the conversation because the Nobel committee wouldn't even consider him.
My hope is that the world recognizes that the Prize actually is awarded to the actions/beliefs of a person rather than the individual receiving it. If that happens, then perhaps Obama's accomplishment will be realized in people acting on the inspiration and there might actually be results.
Sorry for the long post but this seems to be a big topic. The last point I'll make is that Obama cannot achieve peace in the Middle East. The UN, the EU, and any other international peace organization cannot achieve peace in the Middle East. The only people who can achieve peace in the Middle East are the people in the Middle East. So calls for him to actually achieve a result are misdirected. The most that he can do, without trying to force peace (like his predecessor), is state his opinion and make himself available to support efforts to end the conflict and work toward peace. AFAIK, that is what he has done.