For sure. Romney has no chance of winning against Obama. Zero. Zip. Nil.
If he does somehow win then nothing will really change. There will be not enough principles conservatives in Congress do change anything. Romney won't be like Obama and just magically mandate things.
Conservatives should take a long view of this and realize that the enemy is the political system. It virtually guarantees that power will be split forever among Democrats and Republicans with Democrats the majority. Society is geared to churn out liberal democrats.
A real coalition has to be built with the goal of peaceful destruction of the political system in place. That shouldn't be hard to do. Communists thought about this about a hundred years ago here in the US and now they've almost completed it. It's too late in the game to do anything about it.
You are right. The only thing that could be done is start another party. That takes time and it isn’t going to happen for 2012. Things like this take patience and years.
We would also have to groom really good candidates that haven’t been tainted by the GOP and their personal past.