That is the same "lesser of two evils" that has been foisted upon conservatives all along. Fred cannot win the general election without the conservative right, and the conservative right won't be voting for him... Ergo, Fred cannot win. We had best get behind someone everyone believes in.
And just who might that be, Duncan Hunter, who can't even get above 10% of Republican voters? Do you HONESTLY think he could beat any Democrat who is nominated in 2008? The Republican candidate will not only have to appeal to conservative voters, but to independent voters as well. That doesn't mean that the candidate needn't espouse conservative ideas, but that the person will have to be someone with whom a wider range of voters will be comfortable.
The 'lesser of two evils' as you call it, will still be able to appoint Justices who will uphold the values you and the others here proclaim to hold so dear. By sitting out the election because your guy isn't the nominee, or even worse, by voting third party, you're showing that you don't really care if your values are upheld, you just want to punish the Republican party for not choosing someone YOU want.
Back in 1992 when Ross Perot was courting disaffected Republicans, folks thought they had the luxury of making their statement. The world was in a relatively peaceful place. We don't have that luxury today. We are in a war with folks who, if they are victorious, won't care a hoot in hell what OUR values are. They'll be imposing their own values and way of life on us. I believe there is a vast difference in the way a Republican President will handle the Islamic threat versus what a Democrat would do. I don't want to give the Democrats a chance to put us in that kind of danger.