A Smith victory--the first ever for the Bull-Meese--might mean that the conservative wing takes control from the progressives. I wonder if Cathcon's prediction here will become true at all:
As it stands now, my only thoughts are that, if the Bull Moose party survives, they might be renamed the "Liberals" at some point and, in this timeline's analogue to the 1970's (decline of New Deal politics, collapse of liberalism) they become rebranded as a "neo-liberal" party of some sort, trying to forge a Western and North-Eastern coalition. Just a thought.