I'm a sucker for any story headlined "Where Did the Libertarian Party Go Wrong?" and sure enough Brian Doherty's Reason article is a fun read. I particularly liked his opening line:
From the outset, Bob Barr’s Libertarian run for the presidency was fraught with great expectations.
The biggest problems for the LP? Apart, that is, from the fact that libertarian ideas aren't all that popular? The failure to take advantage of the Ron Paul Revolution. That and the problem that Obama was a pretty good vehicle for protest votes this year - in a way that John Kerry never was.