Jennifer Rubin says "Obama's Centrism Could Drive the GOP Out of Business." Maybe. But centrism comes in different varieties. There's big-government centrism and small-government centrism. If the GOP adopts the latter, becoming the party of moderate reform toward less government, it'll distinguish itself over time from the party of moderate reform toward more government. Being wonkish, market-oriented and not frighteningly radical could go a long way.
On a related note, this could be interesting, and I'll try to be there: "Has the Right Hit Bottom Yet?"