Obama's first press conference was a disaster. He went on too long after the first question and seemed too anxious to make his own argument instead of dealing directly with legitimate questions. He also looked uncomfortable calling out the names of the press members and did not seem to know where they were sitting. President Reagan did a better job with these little details.
I also found it annoying that Obama set up a fake model of conservative philosophy. Personally, I'm glad that automatic counter cyclical systems are in place that help the government move quickly to counter a recession - unemployment payments, food stamps, Temporary Assistance for Needy Families (TANF). To make it sound like conservatives want to see nothing at all happen is just silly from my perspective. A reduction in the payroll tax, for example, would have an immediate positive impact.
The main thing, for me, is that Obama bored me. I was switching channels by the middle of the press conference and I'm someone who cares deeply about U.S. politics and public policy. If I get bored...then there are real problems with Obama's delivery and responsiveness to the questions. Based on this performance, I guarantee fewer viewers will show up for the second press conference.