The Tea Party is good for one reason and one reason only. To beat back those who wish to abolish liberty! This is one of just a few things conservatives, libertarians, independents, and a some specious democrats can agree on.
I have a quibble (perhaps more than a quibble). "Tea" stands for Taxed Enough Already. I see the Tea party movement as an effort to control taxes, control spending, and shrink the size of government. The end result would be more Liberty. But the implementation is through reducing government revenue.
My biggest bone of contention with (some) Libertarians is that they seem to make "maximizing my personal Liberty" the first and most important goal. Secondarily, they have (some) interest in shrinking the government's budget.
I think that we need to control government spending as the first task, and then focus on Liberty. I think that's the only way it will work.