While I do like the cyclical theory, I think that the watergate scandal opened the gate for Carter to get elected in the first place.
I'd like to note that FDR would have to be both the Nixon and Reagan of the Democratic resurgance (the democtratic president before that was Wilson, who didn't really do anything to create a winning coalition, he just got lucky with Teddy Roosevelt running as a third party).
The cyclical theory looks nice on paper but completely cracks at the seams when put under scrutiny. You have to really go out of your way to make things fit all nice and tidy.