For Obama (or anyone else) to consider Libya a victory would be a huge "MISSION ACCOMPLISHED" blunder. All we've done is take a country with a long history of sponsoring terrorism and 1) force them into a civil war, 2) bomb their leadership out of existence, 3) hand them massive quantities of weapons, and 4) not put a single soldier on the ground to help clean up the mess we've made. Iraq may have been a mistake, but at least it was a mistake we had the good sense to try and fix. Libya is a mistake that we're going to naively walk away from, all while comforting ourselves with the arrogant notion that, "At least Americans didn't die."
W. tried to police the world. Obama just likes to sucker punch it.
There comes a time when one has to quit supporting despotic regimes and tyrants just because it's politically convenient for us for them to be in power. I think supporting people like that has caused more problems than letting all the people of a country decide their own fate, even if there might be risk in that.
If that can be obtained with only cutting support and not going to war or doing much active engagement with them ourselves, then all the better.