AdNags looks at changes in polling results and sees little, provoking questions about return on investment.
But that's only if you look at polls as your criterion. One shouldn't expect much effect, given the polarization and the limited broadcast hours. But there are other measures by which conventions should be measured, and conclusions are premature. I'd look at what happens in donations and how much it inspires people to volunteer. Both of these intermediate results could have later impact on votes and polling results.
(As an aside, it looks so far as if Obama has received a bounce.)
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(DISCLOSURE: I work for Abt SRBI. My company does polling. My opinions should not be construed as representing those of my employer.)