Thousand Oaks / Simi Valley is Tom's home base. He has the name recognition and support and fundraising ability to get elected to anything he wants in this area. But since he's termed-out for Assembly and will be termed-out for State Senate in 2008, his only political options are Congress or another run at a statewide office. He's lost three times running statewide, and unfortunately it will now be hard to convince a majority of voters that he's a viable candidate for Governor. Perhaps if California hits another horrible fiscal crisis the state might turn to him, but I'm a bit pessimistic.
Maybe I'll feel better after I've had more time to get over Tom's recent loss.
As you've pointed out, the Senator is not yet lost to California politics. If McClintock does not continue in political, public service the I'd hope his voice could be used to shape young minds full of mush.
Not withstanding the lack of academic credentials, a chair at either Palo Alto or Berkley would be welcome.