As the American Conservative magazine said, the best thing for the Republican party and traditional Republicans would be for Bush to lose.
He and the neoconservatives have done more harm than good.
If, in fact, Bush loses, there is going to be a lot of soul searching within the party. Ultimately, the party will go back to its Reagan roots (I hope).
If you are a (traditional) Republican, there is a silver lining if Bush loses.
If you are a neoconservative, your agenda will be blamed for bringing down this administration.