This is totally not news.

Bush did not win because of any funny business by the electoral college. The electoral college results and the electors voted for by the public on election day were the same.

It has never happened that the electoral college went against the electoral results on election day. There might be one or two errant electors a few times in the past but nothing significant.

I don't understand how you can say it "looks like" Obama will win when the whole Electoral College vote is merely a formality ratifying the results of the election held a month ago.