By "honors" do you mean magna cum laude, etc.? If true (and you must have better Google-Fu than me; I got nowhere on this) a smart person can get shitty grades. It's just (unlikely) a stupid person would be given stellar grades.
Average grade performance in college would tend to show Obama is smart, but not more than that. Not brilliant, not a genius...just smart. That's a vague catagorey...kinda like "gifted" as to a k-12 kidlet.
Magna cum laude means straight A's with high commendations from profs.
Cum laude is one step lower, 3.5. No commendations required.
At a putative 3.3 he did not wear an honor cord when he "walked."
Research the massive problem ALL universities, especially the Top Ten, are experiencing with plagiarism and cheating.
Then research the "social pass" problem and massive "grade inflation" problems.
And then check out the number of students enrolled vs. the number of students who flunk out vs. the number in the 2.5-3.49 GPA range, vs. the number in the 3.5 to 3.9 range, vs. the number in the 4.O -- a school with a HIGH flunk out rate in the freshman and sophomore terms is LESS likely to be engaging in social passes and grade inflation.
Then, check out the number of lawsuits filed vs. the number settled out of court -- the facility with a high number NOT settled out of court is less likely to be the one cowed into social passes and grade inflation by threats of social activist retaliation -- and YES profs are cautious about flunking a) children of lawyers b) Blacks and c) REALLY SCARED of foreign student flunks.
Finally, check out the hire factor:
1) how many new and recent grads actually get a job
2) how many who DO get a job get one with some government agency (BAD rep) vs. how many get hired on with a relative's firm (slightly less BAD) vs. hard competition for grads by private and not-connected employers (GOOD performance: their students prove out in the real world)
3) how many of those who DO get a job with a PRIVATE company that has no reason to hire the kid HAVE THE SAME JOB 1 year after hire-on: retention of a school's grads -- good indicator that those grads actually learned something while attending the school -- bad retention is damned good evidence of the social pass and grade inflation whammy deception in the GPA/transcripts
BTW: if Obama had been a superior instructor OR student, his alma mater would be demanding the Bragging Rights -- "see what OUR SCHOOL produced, a brilliant student who became POTUS -- now send us your alumni donations AND your kids." And Obama would have BLAZONED those records across every newspaper in the world as proof of his qualifications for office.
There IS something in those records he DOES NOT want folks to know.