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But you still need experience....especially in regards to foreign policy.
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As governors of California and Arkansas, respectively, Ronald Reagan and Bill Clinton had virtually no foriegn policy experience before running for president. If you ask most Republicans and Democrats (again, respectively), they'll say that those two did pretty well on the foreign policy front.
And for the sake of discussion, George W. Bush had very little foreign policy experience either, and he's been a disaster. :P
In any case, Obama makes a good point that it's more important to be right than it is to have experience. In terms of foreign policy, Clinton and especially McCain have much more experience than Obama, but the latter was right about Iraq from the beginning while the former two were dead wrong.