If Republicans pick up the senate, what would actually happen?

[Sol]

My advice to Senate Democrats: Get a new leader, filibuster like hell.

I agree.

Me too, except there might not be a filibuster any more.

Then Obama needs to grow some balls and bust out his veto stamp.

Obama will almost certainly try to attempt some bipartisan 'great compromise' which will gain him 0 political capital. But he'll still pass yucky neoliberal policy.