Some good may yet come of this.

Looking at it carefully we can see the Democratic Party being ripped apart as well. They started out in utter euphoria having both a black candidate and a Woman candidate. Yet, they may end in a heap. This may be the best thing that could happen to such a left leaning political group.
If we work hard at mobilizing the voters to the polls, Obama can't stand as a candidate. Sadly, we are stuck with McCain as the only likely choice, but if the democratic party is weakened by this strong division the next four years may not be that bad.
In every primary Obama has gotten 80% of the black vote and 20-25% of the white vote. Toss in miscellaneous other groups and you still only get 40% of the voting block. Further, drive conservative legal voters back to the polls with sound reporting by bloggers and word of mouth and the numbers should drop to 35% or less.
So talk it up, write it up, but get every conservative you know to the polls.