The press loves Obama because he is the embodiment of their dreams... mixed racially, culturally, politically leftist but inclined to disguise it with lots of moderate-speak.
Obama does possess above-average intelligence and speaking ability. He is highly ambitious but his overall credentials are so weak right now that you wonder if he really plans on running in 2008.
The press loves Obama because he has a pulse. The press loves Obama because he's got charisma. The press loves Obama because people who listen to him speak are moved by him.
The press is following the story, that's all.
Obama's resume is razor thin, but really is it any thinner than W's was? or Kennedy's or Clinton's really. The bottom line is appealing to the voters. Most of that is charisma, charm, etc. Intelligence helps (although isn't required); it also helps to have themes people can relate to, but most people don't want long winded treatises on specific policies, just a feeling that the guy knows what he's doing and his heart is in the right place.
Yeah, his resume is a lot thinner than those guys.