The best way to bring about the end to AA is to get all the school up to better standards.

When we have equality in education, and a more equitable distribution of finances, for a long enough period of time, affirmative action should be phased out. He certainly would be a role model for minority children. He would, I believe in many cases, give children something to look forward to as a possibility.
However, Barack is not reflective of the norm. Many people in monority communities are in the difficult situation that they are in because of a history of slavery and racial segregation. Less than one generation ago, they were not allowed to vote, or given nearly the same opportunities as people of a different skin color. In my opinion, diverting more of our resources to helping in training and early childhood education is a priority in helping these and many other families.
Many minorities are very sensitive to the idea that some people feel that electing a black president would make everything "even", or that it would prove that there is no longer any racism. They should be sensitive to that, because it is simply not true. Electing Obama would be a great step in the right direction to equality, and eventually programs that rate different people based on their skin color would be modified and gradually shifted to be weighted by financial situation (I would hope). However, it is not an overnight thing. Racism is still real, and still affects your ability to get a job, a raise, and just get taken sseriously in many parts of the country. The history of racism still affects the current situation you are in now. For a second try to imagine how different your family history (and current situation) would be if your grandparents were slaves that where not allowed to have money, and education, or even be taught how to read.