I feel like this is a bit of a distraction. Modern day republicans and democrats are pretty close to the same thing. Bush and Obama have very few meaningful differences in terms of policy. Healthcare is the only significant difference.
The establishment WANT people paying attention to the left-right axis of the political spectrum, because the IMPORTANT axis is the libertarian-authoritarian one. Libertarians should be working hard to educate republicans and democrats about the important spectrum which the establishment is desperately trying to keep hidden.
I don't know that I'd agree that "the list" is shorter with republicans. It may seem that way now, simply because republicans are not currently in power. When they DO get in power, they come up with new programs, departments, more liberties they wish to curtail etc. Right now you aren't hearing about them, because they have no power to implement any of their desires so they don't even get to think about what they'd like to do. For instance, the 'war on drugs', iraq war, dept of homeland security, having more prisoners than anyone else in the world (over 1% of population), open border policy, patriot act, and more- all republican babies. Hell, McCain wanted to spend billions on some new national criminal information network and more jails and prisons!
But because republicans are NOT in power now, they are finding common ground with libertarians.
It's republicans who need to reform. Republicans need to acknowledge the error of their ways, and realize how they have contributed to where we are now. If they didn't create bullshit like I've listed above, it wouldn't have created an opportunity for the left to put in Obama.
After all, do you REALLY think Obama could have happened if it weren't for 2 terms of Bush? Do you REALLY think Obama wasn't a direct response to Bush? As much as I'm against everything that is happening right now, I lie the blame for it at the feet of the republicans.