If there is a large enough turnout (46% or better), then it will end the "popular vote" argument, wiping out Hillary's gains in Pennsylvania (about 215,000).
NBC says 36% of the white vote goes to Obama. That's enough to end it, if turnout is in the 45% range or so., given that the "black vote" is projected to break better than 90-10.
From the North Carolina Sec of State, results tracking (including zippy little county map...! voter turnout, here.).
Update: 7:58 pm - Chuck Todd confirms that popular vote is definately 'in play' with the potential size of the Obama win in North Carolina.
Update2: Remember that North Carolina has a slew of undeclared supers. There is a treasure trove of 11 undeclared. For a sense of scale, that's about equal to a 10% margin among the elected delegates.
Update3: Hilllary's "popular vote" gains in PA erased in NC, as Obama leads 897K to 661K ...
n.b. my "turnout" figures are based on those eligible for NC semi-open primary. I think the NC people calculate based on everyone, including Republicans, so their turnout numbers are lower.