Option 2. I don't think Obama's race hurt him.
I'd rather say it was an advantage.
Exactly.
In what world does increasing his share of the black vote from 90+% to 95+% in exchange for scads of white voters, particularly seniors, become an "advantage"?
in a world where turnout matters, and plenty of people not just black get excited by the idea of a first black president
This.
And badger, I don't think Obama lost "scads of white voters, particularly seniors". The Deep South could be an exception, but Obama was not going to win there anyway. Elsewhere, as shua notes, there were a great amount of people, not just black people, who were excited by the idea of Obama being the first black president or whatever. So, if anything, I'd say that overall, Obama gained, not lost, votes because of his race.