There are a couple of ways to measure the success of a foreign policy, and a couple of ways to assess the benefits.
Since US foreign policy has the tendency to affect foreign countries, one need also assess the effects on the foreign countries in question. And whether or not you view our foreign policy as successful, depends on whether or not you want peace with that country, or you want to kill enough of them to force our enemies out.
You might be thinking right now that I've said nothing.
But, the Bush admin's foreign policy, in practice, was far less popular than Clinton's. The world loved Clinton, and they like Obama too, though conservative media, pundits, and politicians will always seek out conservatives in other countries, and make it appear as though Obama is hated everywhere.
The rest of the world, from the people I've talked to in Europe and the middle east, liked America when we were a gentle giant, and Russia was the big bad guy. Now we can't do anything without looking like a bully, and nobody likes a bully.
Having said that...Obama is also naïve. He thinks reasoned speeches will bring people around, in other countries too...but a hawkish policy really wouldn't work any better. There really isn't any way to get people to like the richest guy in town, unless he gives you stuff. Even then, you'll just stop hating him as much.
Anyway, like all other duties a President has in addition to foreign policy decisions, we're expecting too much from one man.