I'm officially an "American living abroad" because I was born in the US, but I've lived almost all of my life in Canada, and consider myself Canadian.
This is the first US election I've voted in, and I voted for Obama. I had no plans to vote. It was my (Canadian) husband who took it upon himself to find out how an American abroad can vote, registered me online and had a ballot sent to me.
I think that Obama is far and away the preferred choice of the rest of the world. There is a general sense that he is more educated and informed about world affairs and more culturally aware. The US under Bush has been viewed as an international bully - sticking its nose (and troops) where they don't belong and don't understand, financing the dictators of its choosing (my family is from India, and most Indians I know are not happy about the amount of money pouring into Pakistan - who do you think is on the front lines when Pakistani terrorists run amok? India!)
The US also used to be viewed as a place where international scholars could come and learn. That's not the case any more - it is freaking impossible for international students to jump through the hoops to get a student visa. It took my husband nearly 9 months to get a one year visa to do a fellowship in the US (and he is married to an American!). One would assume that under Obama, this general immigration policy of "if you are brown you are a terrorist until proven otherwise" might be revisited.
However, as a Canadian, the fact that McCain is more supportive of NAFTA might in fact make him a better president from our vantage point.