They'll obviously dig in their heels and use the filibuster and the gerrymander and every other tool in their arsenal to govern more effectively in the minority than the Democrats ever govern in the majority. And with two senators per state, they can ride this minority thing out indefinately. They've already succeeded beyond anybody's wildest dreams at pushing more and more national income to the very richest. Which is far more important to them than any electoral majority. But, of course, the party line will be that Romney lost because he wasn't conservative enough. You can take that to the bank.
Yeah pretty much this. 2009-2010 was good for Republicans and 2011-2012 will be the new norm at least in the short-term (5-8 years) because of 2010 redistricting and the filibuster. If we're going to see any shift, it will be ten years out. They don't have any reason to moderate right now I don't think.
Even the realistic best case scenario for Obama (reelection + D-Senate), the most it looks like he'll get is an immigration deal (DREAM act?) or a center-right fiscal grand-bargain:
http://www.newyorker.com/reporting/2012/06/18/120618fa_fact_lizzaNothing to be proud about compared to the vision and potential of 2008 but that's what happens when you squander and continuously cede ground.