100 years ago, the Irish and Italians and Polish were poor and Catholic and non-English speaking and immigrant and, in the eyes of many, non-white*. The same gradual assimilation will happen here; it will probably take several decades but there is little question it will happen.
This also plays into the social conservatism of Hispanics. right now they are poorer and voting with their pocket books. As they move up the ladder, they'll become more motivated by social issues and therefore vote GOP more. You can see the same trend through the generations in church going Catholic voters, going from pocketbook Democrats to social issue GOP'ers.
