For you to equate those two is to deny how the Republican Party came into being, which was as a third party. Further, to equate staying home with voting third party is mathematically fraudulent. I have every intention to vote for McClintock, Poochigian, Strickland, etc. but I won't vote for Arnold.
FO says Arnold is far ahead, so he doesn't need my vote anyway. If the New Majority thinks it doesn't need conservatives, maybe conservatives should give them an opportunity to prove it.
That is, after all, your goal. Defeat, humiliation and loss of power. To prove you're incapable of compromise? Karaoke is your song though. a false song for defeat. The ilk herd will glory in the humiliation of Arnie's defeat.
The GOP was never a third party. The Whigs were done and the Republicans were second to the Democrats in their first Presidential campaign in 1856.