I believe that Obama really has a tin ear for such things. I suspect he may over-react and go after Romney in a way which is a turn-off in a town hall format.
No. He does well in this format, because he's a master of filibustering with platitudes. The questions will be softballs, and the pony-tailed guy isn't going to cross-examine el Presidente.
Liberals, who are now willing to consider voting for Romney, will tune in to this debate. Romney will reinforce his competence, and liberals may now be attuned to Obama's vacuity.
Romney will win, but the victory will be narrower.