What happens if Colin Powell endorses Obama?

[Likely Voter]

After much speculation the 'will Powell endorse Obama' thing is hitting high gear. Politico speculates Colin Powell will endorse Obama on MTP this sunday.

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http://www.politico.com/news/stories/1008/14665.html

It seems the GOP are gearing up for it as well by spinning it as just a race thing. Note headline at Fox News:
Hip-Hop-Dancing Colin Powell Fuels Speculation He'll Endorse Obama


So does it help Obama or not?

[Likely Voter]

I agree on the news cycle thing. I think it gives him half a point in the end. Sure there will be a 'he is just black' thing, but Colin Powell is popular. By the time he resigned his approval rating was over 70%
http://www.pollingreport.com/P.htm#Powell

Back in 1995 he beat Clinton in a poll for President by 10 points. Maybe some of those older voters will remember that?
http://findarticles.com/p/articles/mi_m0EPF/is_n5_v95/ai_17459252

[Likely Voter]

I am as cynical as the next guy, but Powell discussing this soldier really got to me. Seeing the picture makes it even more poignant.