Slim, your points are valid in principle, but my concern is that in practice, the capital-L Libertarians, that is the members of the LP, seem more interested in trashing both parties equally. I would prefer that their message to the public, and to the GOP, be that the GOP is better than the Dems, but its feet must be held to the fire. This would be the constructive and more effective approach.
You got it right. That is if you want the LP primarily competing with the GOP for new voters and potential activists. On the otherhand, if you want the LP primarily competing with the Democrats, then the opposite would be true. As a Libertarian, I want us competing with both. But as a realist, I say we have spent far to much competing with the Republicans, and its now time now we start competing with the Democrats again, at least enough to balance things out.