It does, but we need to work smarter, not harder. :)
Well, if that means coming up with a good candidate for '08, I'm all up for that. But if despite our efforts we don't get one, I wouldn't consider it smart to just vote for him. When the difference between the two major candidates gets below a certain threshold, then it becomes advantageous in the long term to vote for a third candidate who'll signal to the major parties what it is they lack.
I would especially advocate this for people who don't live in battleground states.