What should Conservatives and Republicans do now? That has been the subject of much discussion. The short answer is nothing. At present they should just sit tight and wait and see, apart perhaps from some organizing activity. Let the Left have its moment of celebration, finally positive about something, until they are inevitably disappointed.
The reason for this is simple. We have to wait for Obama to do something to have something to respond to. Until that occurs there is little point in much criticism, and will only seem like sour grapes given that he will enter office with good will and high approval. That will not last once he is President, and given the Democratic congress much that is objectionable will soon come to the fore.
What should be done now is organizational, grass roots work. The party has to be rebuilt in places like California and New York, where it has totally collapsed and where the Republican line is for rent.
Meanwhile those in foreign countries who so loathed Bush and couldn't wait to see him leave may come to regret it as economic and trade policies change; in other words what most effects them directly.