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As an earlier answer noted, being the guy that has to replace Steve Jobs is a pretty big challenge. I think he has done ok, though. Honestly, I think the best thing he has done is handle the controversy over working conditions at FoxConn. Apple didn't just shrug and mumble platitudes, they actually helped improve working conditions and wages there, at least according to some reports I have read. Not sure if they took down the anti-suicide nets yet, so it still might not be THAT great. :-0
There was a good article about what Cook could do in the next year over at Ars.