Shockingly, many conservative commentators are actually coming out in favor of some of Obama's nominations. We've got Clinton for Secretary of State, Napolitano for Homeland Security, Robert Gates staying on at Defense, etc...
These selections show a lot about what will most likely occur under Obama's administration. Gates staying on at Defense indicates some continuity on the Iraq strategy. Clinton came out as a hard-liner during the primaries and may steer Obama in a more sophisticated foreign policy.
Now, Arizona Governor Napolitano may seem an interesting nomination to cheer, but if she resigns, her successor is a Republican, giving Arizona Republicans an advantage in 2010. Same with Schweitzer from Montana (possible Secretary of Interior). Senator Jack Reed's replacement would be appointed by a Republican Governor 9he's being considered for Secretary of Defense).
Karl Rove had a good article about the obstacles Obama will face in his first few days in office.
All in all, things are looking up for Republicans. This is the second consecutive electoral defeat, but 2010 is looking up. Do not despair.

Alright, well as the Republican Party is the only party that adheres the conservative principles at the moment, conservatives have a vested interest in maintaining the GOP. The 2008 election revealed a number of weaknesses within the party structure (not the message). Money was the key issue, with the Obama campaign, DNC, DSCC, and the DCCC out-fundraising their Republican counterparts by wide margins. In North Carolina, Democrats won across the board. So now there are proposals out there that try to rectify these weaknesses: NC Conservative Future and Rebuild the Party. Check out these websites and start talking. We need good ideas for Republicans and conservatives in general to get elected. If not, we may be facing a long exile in the wilderness...