The repudiation of Obama/Pelosi is undeniable.
This was a course change of historical proportions. The Republicans have been given the proverbial second chance.
In 1994 a similarly historical electoral tsunami rolled into Washington. By 1996 the Democrats had the upper hand again - legislatively. President Clinton played both ends against the middle like no one had before or since. I don't think Obama has one tenth the talent of Bill Clinton. This is true because he is no political chameleon like President Clinton, but mostly because he is in over his head and always has been.
The Republicans must act in the interest of the nation (meaning fostering an environment for private sector job creation) and not in the interest of the party, making points against Obama with a goal of capturing the White House as they did in 95 and 96. The people are watching even more closely this time.
If Obama vetoes legislative action that is directly relevant to aiding the expansion of the private sector jobs machine let the chips fall where they may. However, if the Republicans pursue a witch hunt against the Obama Administration, jump on sticky social issues or push political paybacks (like Obama did) they will be thrown out in 2012. There's just too much at stake for political games this time.
We shall see...