I think your dad is extraordinarily wrong. It always strikes me that really highly educated people love to assume all other similarly educated people are moderate and generally have good ideas. Almost as if the whole ideological divide is just a show for the unwashed masses (this is not directly pointed at your dad, now I'm making a broader point).
I think his point was the the POTUS doesn't really have that much power. To him, Congress and the Senate have the true power. People, mistakenly vote top of the ticket, while the congressional and senatorial races are mostly ignored, or at least, in comparison. He believes the media overplays and over hypes how close election is, not only to create a story (and increase ratings) but also not to entirely undermine local and state races. In a way, their sensationalism is a good thing.
In reality, if Obama had a huge lead, reporting that would basically send a message to Republican hopefuls in both senate and congressional races, that they're wasting their time and shouldn't bother running. You can't have that happen and allow a grim outlook take control the outcome. That much doubt and cynicism isn't good for anyone. It would discourage people from wanting to get involved if they thought their chances at winning were non-existent. Making things seem close encourages people to get involved and hopeful that their vote truly does make a difference. So, again, in order to boost ratings for themselves and to prevent interrupting the political process, the media and even pollsters work their magic (with, bias, skewing and half-truths) in order to make things seem deadlocked. It's not really a conspiracy but rather a little tricks at keeping things in balance. It's weird, but the way he explained it, it made a lot of sense.
On the most part, especially for the economy (which, ironically, the government can't really control) Obama and Romney want to do the same things. What differs is how they go about getting things done. They vary on social and foreign policy though. From his experience, favorability and likability are key. Whichever candidate people resonates better with and whichever person they feel more comfortable with will win. Most people don't know about the issues or what they're about. If folks think Obama is alright, but Mitt's a jerk, they'll vote for Obama. If the incumbent isn't hated but the challenger isn't necessarily loved, the incumbent has the advantage and will have a very strong shot at winning.
All that remains is who actual bothers to go out and vote on the 6th.