Jim Wallis is a liberal and I can't imagine any but a liberal audience who would cheer the demise of the Religious Right, so consider the source and the audience. I don't think the Religious Right's Era is over --unless you can completely shut down freedom of speech in America.
I do think the GOP lacks a strong candidate of appeal to the Religious Right, but it may be too early to tell. If they start up a 3rd party, it wouldn't bode well for either the dems or the republicans.
As an evangelical, I was not disappointed by GOP's judiciary appointments --at least as far as we know the two new fellows are constructionists and not activists from the bench --who may therefore get a chance to rule on the constitutionality of abortion --and gay marriage--social issues which were newly promoted as legitimate starting in 1973-- contrary to the centuries old will of the majority. These two issues represent the culture war more than any others--along with a concern for media entertainment, including internet porn, sex slave trade, etc.
If the Bible is true about the Creator God, we do well to have another Religious Awakening in America. At least UptheFlag recognizes that 'there is nothing new under the sun' when it comes to the impact of Bible believing people on American history. I say they are responsible for the best of American values.