I notice on some US news TV stations they play up the “international celebrations” thing, but the truth is that the world is a very big place, and it is likely only a small percentage of people follow US elections. Obama’s victory will be reported in national papers, but a lot of people won’t really know who he is, or much about him. The fact that he has African American roots will attract attention, but not much else. There is a bit of a misperception in the US that the rest of the world is sitting in the same room, but this is a little removed from the reality.
However, you are right that Bush has put the US under the international spotlight, and blotted the proverbial copy-book somewhat. In direct contrast, Obama will be seen as a very moderate figure, who is much more fluent in world-speak. His tone and demeanor are less likely to inflame the ranks of anti-Americanism. Anyone listening to his closing speech last night, would have been struck by his conciliatory tones, realism, and understatement. Whether he lives up to the task in hand remains to be seen, but if his campaign is anything to go by, there’s hope in my view.