This is a good chart which represents how the laws of the Immigration and Naturalization Acts have changed over time.
http://www.shusterman.com/citz-chart1.html
If you look at the chart - during the period from 1952 to 1986, the governing rules were different than they are today.
Even if O was born in Hawaii, he is NOT eligible for POTUS and neither am I since nobody born between 1952 and 1986 was grandfathered in.
The chart only covers people *born outside the US*. If Obama was born in Hawaii, the chart does not apply to him.
Besides the chart deals with *Acquired* U.S. Citizenship at Birth, not necessarily "Natural Born" citizenship.
No court has ruled if those are the same thing or not. Mostly because the difference between "citizen" and "natural born citizen" only applies to eligibility for the Office of President, and there has never been a ruling on the matter. Let's hope there is this time. Although if Obama was not born in Hawaii then their will be nothing to decide, as he would not be a citizen at all, unless later naturalized, let alone a natural born citizen.