The three previous post-New Hampshire polls averaged to a twelve-point Clinton lead, and so this is a strong confirming poll. Obama needs a big bounce from South Carolina, especially since early voting has already begun. The poll also confirms that the coalitions remain the same:
Clinton's lead is largest among women, Latinos, lower income voters, non-college graduates, and seniors. Conversely, Obama is preferred among blacks, college graduates and Democratic primary voters with household incomes of $80,000 or more. Clinton and Obama run about even among men, liberals, and white non-Hispanics.
Obama really needs liberals and / or Latinos in order to make up the remaining ground.
Right now, my crude math says that a 12-point Clinton victory in California translates to a 228-142 victory in pledged delegates, which would be a major blow to Obama's campaign. While winning California would be ideal, at the very least Obama needs to finish closer than this. Ifhe can stay close in delegates and rack up a bunch of wins elsewhere on February 5th, Obama might be able to build a lot of momentum during what appears to be a very favorable schedule from February 9th-19th.
Update: In the comments, tilthouse goes deeper into the numbers, and estimates that this would translate into a 56-delegate edge for Clinton. That is a lot better for Obama, especially if he closes ground after South Carolina.