Here is an alanysis of the adoption issue:
http://noquarterusa.net/blog/2008/07/30/the-paper-trail-obamas-indonesian-background/
The Paper Trail: Obamas Indonesian Background
by Judah Benjamin
I neam analysis
Irrelevant as to his citizenship. There is only one way to renounce your citizenship. Go to an American embassy or consulate and fill out the specified forms. Obtaining and using a foreign passport does nothing.
Of course, if it turned out that he had used a foreign passport, that may (or may not) disqualify him from serving as President. The decision of disqualification will be made by each American voter as individuals. In the voting booth.
that only matters to the voters. It does not affect his legal standing to run.