Again, taking on that conventional wisdom...
The Obama campaign is indeed very good at getting good TV pictures of their candidate speaking majestically before large crowds. And they've got many people convinced that this creates the image of a mighty movement, and...and this is key...that this imagery moves poll numbers Obama's way.
Only one problem--it doesn't move poll numbers.
As is explained here.
(Indeed, evidence is slowly growing that the European trip may have hurt Obama--see here for an interesting analysis by Gallup.)