Here's a story from The Huffington Post (hardly a conservative rag) that states that Robert Gibbs, White House press secretary (about as official as you can get without getting it from straight from Obama's mouth) said that it wasn't a bow and dismissed it outright:
http://www.huffingtonpost.com/2009/0..._n_185281.html
Is it a big deal? Apparently the President isn't putting much weight into the whole Protocol thing, but there is a precedent that goes back a couple hundred years that US Presidents
do not bow to Royalty of any country. I'm pretty sure that goes back to the whole King George thing - you know where we had a war to create our own country and all that?
It does show subservience, and we as a nation are not below any other nation. We are equal. No better, either, as we certainly do not expect or require foreign dignitaries to bow to our President.