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"If so, why didn't the TrueConservativeTM get the nod? There is only so much we can blame on "the old-line party apparatus", and "smoke-filled rooms"."

It's not just the old-line party apparatus...

You have a gay liberal media that has been pimping Romney since 2006.
That same media didn't hesitate to tear down any Conservative that challenged Romney. Santorum and Gingrich were the only two that survived that process.
You have a republican establishment that is apparently run by Democrats. You have Romney with considerably more funds than his opponents.
You have Ron Paul that has his own niche, but apparently has some arrangement with Romney, probably a cabinet seat. Paul siphoned off the libertarians and a portion of the conservative vote, that would have voted conservative.
You've got Romney with a significant ownership position in talk radio.
And then you have a conservative field that couldn't consolidate early enough to derail Romney.
I don't know what the solution is, except for enough people to become wise to the liberal media and quit listening to them when they hype a RINO. And for people to get serious about their core values.

You have a gay liberal media that has been pimping Romney since 2006.

I would like to point out it was the same M.O. with McCain and the media when he ran for president during Bush's run. Then he stayed close with the media until he was the actual presidential canidate for the GOP. Then of course they completely turned on him.