For me, the ideal coarse of action would be for Cruz to declare himself ineligible thus putting Obummer on the defensive and at the same time, Cruz could vigorously support another eligible candidate like Sarah Palin.
Absent this unlikely scenario, as conservatives, we should to accept the reality of the situation and support him to the hilt.
It is a matter of survival.
Bingo.
That would do more for the conservative movement than anything else -- to show that he respects the Constitution too much to file for an office for which he is Constitutionally ineligible -- in stark contrast to someone else who had to lie about his paternity to get around the Constitution.