SPOILERS FOLLOW, I suppose...
First of all, in case you haven't read it, it was pretty short -- five pages. (If you have read it, feel free to skip to the next paragraph.) When a second Barack Obama shows up on the way to the inauguration, this attracts the attention of a certain news photographer. Peter puts on his Spider-Man costume and swings in to help, suggesting that the two Obamas answer a question that only the real one would know. Said question is "what was BHO's basketball-player nickname," which isn't exactly classified information, but it does the job. Fake Obama turns out to be Spidey's old foe the Chameleon. That would have been OK, except the plot hinged on the Chameleon knowing absolutely nothing -- like "you need a helmet" nothing -- about basketball. I can't remember who on the Internet compared it to Spidey Super Stories, but I think that's a pretty accurate estimate of the story's tone.
Anyway, Spidey excuses himself, but before he can go, the Prez-Elect tells Spidey he's "been a big fan of yours for a long time." They share a fist-bump, the inauguration proceeds without a hitch (even the oath!), and we all live happily ever after.
I'm disappointed, though, because even with only five pages, I think we could have seen:
-- Jonah Jameson ranting "how much do we really know about Obama" and how he can't decide who's worse, Obama or Spider-Man;*
-- Obama and Spidey comparing notes on their treatment in certain sectors of the media (terrorist sympathizer! threat or menace?); and
-- the new POTUS acknowledging that With Great Power Comes Great Responsibility.
These are all fairly cheesy moments, I know; and what's worse, I am criticizing what is basically a five-page opportunity for Marvel to cash in on Obamania. Still, there it is, so if we can have the fist-bump, why not make the most of it?
*[The story has Peter working for "Frontline," not the Daily Bugle, but I think Jonah could have appeared regardless, via Peter's imagination.]