Wright is such a bigot that he's even lactose intolerant. But I don't think it will end up hurting Obama all that much in the long run.
Certainly not with Party Leadership. Everybody in politics has embarassing friends. There are certain people that you need to be in good with no matter how crazy they are.
Definitely not with African American voters. African Americans have a code of silence as strong as the one cops have. They don't criticize each other, so they know that Obama can't step away from Wright.
It will hurt him with White Voters for a while. But, like the massive circus surrounding Zippergate, the worst people could dig up turned out to be lame. And, like Bill Clinton, Obama will emerge more popular than ever. Especially when the skeletons start coming out of McCain's closet.
McCain is breathing easy now. He's not getting negative coverage. On the down side, he's hardly getting any coverage at all. Which means that all the negatives will hit too close to Election Day to counter in time. And, the absence of Republican Primary action means McCain is not getting the airtime needed to buff up his image.