I disagree, given that Republicans are solidly behind his opponent and the major problem Feingold has is getting young Democratic voters, who still give Obama high favorables and were drawn to him in '08, to come out to the polls. This is one of the best things Obama can do.
Republicans were always going to be against Feingold no matter the candidate, just as they were in 2004 and 1998. The trick to this election is that (1) Republicans have somehow lucked into their best candidate against Feingold ever, (2) Republicans are enthused, (3) Independents are voting with them, and (4) Democrats are not excited at all.
Feingold can't change his opponent, so he'll need to instead change (2), (3), and (4). Obama showing up will clearly make problem (2) worse, not better. Indies hate the president in Wisconsin, so I'm not sure it does much for (3).
And as for problem (4), the problem is not Feingold, whom younger voters should actually
have something to be excited about. The issue is Obama, who has largely disappointed them. The secret to winning the November elections is not an Obama tour, it's a fundamental change in the way Obama does business. And I'm not holding my breath.