Unless you somehow envision a breakdown of the Democrat party into segments (like Europe), splitting the anti-Democrat vote certainly isn’t going to win many elections. You might feel energized voting for a FreeRepublic candidate that grabs 20% of the vote like Perot did, but the end result doesn’t change.
From what I see the takers (aka Democrats) are remarkably cohesive at election time.
So what? Let’s nominate a moderate who also can’t get enough votes to win, and then blame conservatives?
If the result is going to be the same either way, I say let’s nominate a conservative, and if they only get 20% of the vote, we can blame the moderates for a change :P