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If they applied undecideds evenly between Obama and Romney and then used the weighting in the following elections you get:

Now* - Obama: 46.70%, Romney: 51.17% (R +4.47%)
2010 - Obama: 46.71%, Romney: 50.51% (R +3.80%)
2008 - Obama: 49.53%, Romney: 47.62% (O +1.89%)
2004 - Obama: 46.54%, Romney: 50.54% (R +4.00%)

If you give Romney 60% of the undecideds (very possible IMO), the numbers become:

Now* - Obama: 45.99%, Romney: 50.89% (R +4.90%)
2010 - Obama: 46.00%, Romney: 51.23% (R +5.23%)
2008 - Obama: 48.82%, Romney: 48.34% (O +0.48%)
2004 - Obama: 45.83%, Romney: 51.26% (R +5.53%)

* This is based upon an extrapolated average of the consolidated RCP congressional preference or 34% DEM, 33% GOP, 33% IND.