Certainly, considering that after I wrote this Congress passed, President Bush signed, and SCOTUS rejected an appeal of, the blatantly unconstitutional McCain-Feingold. That certainly is discouraging.But since then Roberts and Alito have joined SCOTUS, replacing Rhenquist (who voted against McCain-Feingold) and O'Connor (who voted to uphold it). The ruling in favor of McCain-Feingold was a 5-4 decision, so if both Alito and Roberts uphold the Constitution then McCain-Feingold will be overturned when next it is considered (unless a conservative retires before a liberal does, which is relatively unlikely).
That's my take on it too. I imagine with any luck that W will have one more shot at replacing a liberal SCOTUS chief justice.