Reagan had his pluses and minuses. While he's the one I consider most responsible for the destruction of the Presumption of Innocence as well as for the horrible failure that is Trickle-Down Economics, he did revive the country's faith in itself, even though a lot of that came from riding rough-shod over the rest of the world.
I'd grade him above average, depending on what you want to count score by. No Abraham Lincoln, but he did bring optimism to a nation demoralized by the corruption of Johnson, the scandal of Nixon and the general ineffectiveness of Carter.
Unfortunately, he was then used as an excuse by his fellow partisans to promote every questionable fiscal, economic and political misfeasance that they could hallucinate.
It took the train wreck of the GWB administration to strip the luster off those policies and by association to tarnish Reagan's image.
So far, Obama's main claim to fame is in demonstrating that the other side isn't exactly brimming with solutions, though.