I'll agree with you to some extent that the two-party system is fairly well flawed. Still, the two party's do have very different ideologies. The conservative ideology fits most of my belief as to how things should go, so that's the side I tend to take. But let us not forget that The People choose what happens. We've never seen a third party emerge that was strong enough to capture the deep interest of the American people. That doesn't mean it can't happen. That doesn't mean some haven't come close either. As I said, the GOP is failing. It's lost much of its conservative base. John McCain was the last nominee—not a conservative by any stretch. So, we do need a restoration of conservative ideals in the party, and we absolutely need someone to emerge as the leader of this restoration of core values that are the GOP.
Might I add that right now there is, actually, an interesting third party movement underway in this country. There's no question in my mind that Obama is failing as a president and he's losing a large part of his own voter base. (And I'm not taking that stance just because he's a democrat and I happen to lean right). He's as left as any president has ever been. Bush was not very much on the side of small government and so many republicans are left going "huh?"
The third party movement is a very conservative one. If the next republican nominee in 2014 does not quite fit that conservative mold, republican voters could swing to the third party candidate, provided he or she is viable. The independent voters, I think, have already been swayed to the right due to Obama's policies, and so in the 2010 election I am convinced that the republicans will control the House and the Senate, and either a GOP candidate or a strong third party candidate will win the White House in 2014.