Voting 3rd Party = electing Democrats.
For reference see 1992 and 1996.
This process is not traditional, and is likely to be illegal, and it largely stands today as a legacy of "reforms" instituted by the Democratic National Committee under the leadership of George McGovern after 1968 and Jimmy Carter after 1972. (Interesting that both these people went on to win their respective presidential nominations after heading up those reform efforts.)
They became part of the process followed by both parties because Democrats used to control a vast majority of the state legislatures, in the big primary states, and the presidential primaries for Democrats "naturally" became the presidential primaries for Republicans.
Unless we toss out the presidential primary system, as it stands today, we will end up with another Bob Dole or John McCain (or George W. Bush, for that matter) and be left wondering "what happened," yet again before the snow melts in New Hampshire in the Spring in 2012.
Republican establishmetarianists will effectively resist all challenges from Conservative until we quit ignoring the ridiculous and illegal basketball tournament of a presidential primary process...
We quickly forget what a stupid mess that it is just as soon as it is over, and forget also that it needs to be tossed out and replaced with a legal process appropriate to a Political Party.