let's just say there have been periods of bad and better relationships with Russia, and right now we're in one of those bad ones due to their Putin muscle flexing, Georgia, Ukraine, NATO, Poland, etc.
If I understand StupidNation right, he's saying let's get back to a better diplomatic standing between us.
I don't disagree with your two scenarios, but I'm guessing Obama will play the middle ground. He will continue to court allies in former soviet satellites and try to appease Russia in some ways, like move the anti-missile system to Israel or someplace out of Russia's backyard, as an example.