The problems the Democrats have with a black candidate is alienating the Latino vote. They own the black vote and do not need Obama to pull them, but his popular appeal is creating an end run around the Democrat establishment.
But give the Bill some time and he will find something on Obama. He still has plenty of friends at CIA, FBI, etc. to find a skeleton in Obama's closet. Eventually, the Clinton machine will begin to attack him - but it's too soon now, the race has just started.
It's shaping up to be a debacle for the Democrats in '08.