Specter screwed up, pissed off his new Democratic colleagues, and now has lost seniority on committees. I wonder if Obama regrets offering such immediate and unqualified support. Still, I don't think his presidential embrace was ever about Specter's campaign for 2010. It's about trying to get things accomplished in the meantime. Obama's not trying to help him win re-election so much as he's trying to win Specter's support over the next year and a half in return for helping him win re-election. That's how I see it anyway.
To that end, if he's really not going to play ball on the issues - and it doesn't look like he is, then cutting down on his committee influence is the better option toward getting things done - from judge confirmations to health care legislation to energy overhaul.