So if a moderate or libertarian Republican somehow received his/her parties nomination, I would imagine both states turning into toss-ups (though Oregon would be more competitive).
Maybe, but it's not quite that simple. The cities and the college towns will vote overwhelmingly Democratic regardless. There may be slightly depressed turnout (and lower GOP percentages) in the logging country and the eastern desert, too... but those counties are small and declining and don't matter either way. The key of the course, in the suburbs and they increasingly favor liberal Democrats at all levels. See Oregon's 2006 gubernatorial race (Kulongoski vs. Saxton) for a good example of what I mean.