Any suggestion that there was a Democratic re-alignment have ended today.
The signs of a re-alignment are:
1. More than a 35 seat gain in the House.
2. More than a 5 seat gain in the Senate.
3. A shift of control in at least one house.
Those are just the first signs, however.
I would be more inclined to say that these are the signs of a shift towards one party, not an over-all re-alignment.
Coupled with the fact that that both the enthusiasm gap and the decline in young voters hurt the Democrats incredibly, I'd say we're more seeing a shift against Obama, not a shift for the Republicans.