As a former member of the Republican Party who registered as a Libertarian this past electoral cycle, I've encountered a lot of individuals such as myself who simply feel that the Old Right is mostly dead within the party and have joined up with the Libertarians. If there is a large enough sentiment, it's possible that the LP could gain enough clout to start competing not necessarily as an equal to the Democratic or Republican parties but as a sizable faction that could swing elections one way or the other and force the parties to field candidates palatable to our cause. Of course, I'm optimistic that Libertarians will continue to run in and even win major elections, but I'm also pragmatic and realize that we don't have nearly the same spending power and reach that the two major parties do. Still, the LP has had some success here in NH (in the state legislature and in local elections) and are a pretty valuable ally to the Republicans and Democrats alike on certain issues they need votes on. Then again, the recent CPAC straw poll showed that among registered Republican voters, Ron Paul placed third (above Sarah Palin) so if that trend continues (not necessarily with Ron Paul but with similar Old Right style candidates) I could be swayed back to the GOP. I think we're all in wait-and-see mode right now.