Yes, it was a really, really big deal. However, very few republicans had the nerve to push the topic all the way, (cowardly behavior that Obama was banking on) so nothing of any consequence ever happened. The GOP should not expect the same hesitation from the Dems. That would be a serious mistake.
Well, it sets precedent. It remains to be seen if Trump will push it the OTHER way when it is dead-to-rights obvious that malfeasance has occurred. Here, Obama was just trying to suppress normal inquiry.