The vacancy was created in June 1987, and Reagan nominated Bork on July 1, 1987. Bork was shot down after a length and bitter confirmation process, and then the next nominee had to withdraw because his occasional use of marijuana decades before was uncovered. Kennedy was much more of a consensus nominee, as his record on the court has proven. The claim that no person nominated in an election year has been confirmed to the Supreme Court in over 80 years is accurate. Personally, I don't think it matters when the vacancy happens or when a person is nominated. But the Senate would be well within its rights to delay the confirmation process until the election.
To me, it seems like waiting is good strategy. If Obama were to nominate a moderate, the Senate could wait to see the results of the election and then decide whether to confirm or reject based on those results.