Third Party, Fifth Column, or Swingin' Fad?

Its been discussed by main stream media, probably as a way of assuring Obama a second term. Activists have condemed it as a lose/lose scenario. History has shown it (at least in the past century) to fail miserably. Is a third political party an option? Can the rise of the new Tea Party Patriot be successful at changing the GOP, making it a party more true to its stated convictions of a constitutional, limited government? There are several possible outcomes for the Tea Party Movement. It can stay outside the major parties, holding both parties feet to the flames, endorsing candidates who are on message with freedom. It can literally caucus within the GOP, putting its own candidates forward in primaries, running its own PACS. Or it can simply usher in GOP victorys in General Elections, and fade, as confidence in the GOP wanes, as the candidates rush to the center. Perhaps all three of the above scenarios could occur? If history shows us anything about organizations, and this includes Parties, its that they change as their members views change. A group is only as good, and as effective, as its individual members are. But are we then to believe that this revolt is no different than the Gingrich led swing against Clinton in 1994? Or the Reagan Revolution, and swing to the right of 1980? Obviously, those "swings" had limited effects on Americas long march to the left. Perhaps, what we in this new Individual Rights Movement should be asking ourselves is, what can we do differently? What can we do this time, to make this "event" be more long lasting? Is it Educational? Legislative? Stategic? How can the Tea Party Movement make itself bigger than the GOP? Stronger than the Reagan Revolution, and longer lasting than the New Deal? Comments welcome here.