When you take it into context, it really doesn't look too bad for Obama.
I'm not delusional enough to believe that Obama will win the state, but you do see a slow and steady progression towards swing state status. In a 50/50 election, it looks like it would be about 54 Romney 45 Obama. Georgia will be interesting to watch in the next few cycles.
I think you're getting ahead of yourself regarding Georgia. You say Georgia is trending towards a swing-state, though you only seem to be using ONE fairly-lopsided presidential election, and polling 4 months out from election day as evidence. So the evidence is minimal at best. After all Georgia practically was a Democrat/swing-state just 16 years ago when Clinton VERY narrowly lost it to Dole, and actually won it from Bush Sr. In 2000 and 2008 it was less swingy (post-Lewinsky), then in a huge Democratic turnout year, a Republican ticket that only garnered 173 electoral votes still managed to win it by over 5 points.
I think the jury is still out on the direction Georgia is headed. With four more likely painful jobs reports coming out between now and November, I have no problem seeing Romney carry Georgia by 10 points or more.
And also, if Romney wins Georgia by more than McCain did, wouldn't that technically be a trend toward R, and not D?
Also, where are the crosstabs for this thing?