As a former member of the American First Party and it's American First National Committee I truely appreciate the difficulty with third parties.  America First Party's beginning out of the Reform Party was largely based upon the efforts of Pat Buchanan supporters.  Diffuculty does not mean I don't agree with the idea. 

Ron Paul still can become the Republican nominee.  Work for that now.  If---- he fails within that system he should run on a third party.

He needs to start fresh with a new and improved third party.  Not libertarian which will not be successful.  Not with another third party like the Constitution Party.  No, he needs a new party called the Paul Party.  At this point he would be an elder statesman running and call upon all third party type people for support.  Actually, much of his core support already comes from these parties.  And, his potential support is large enough to win. 

He has feet on the ground.  Getting on the ballot is possible.  If it comes down to Obama - Romney, et al - Paul the later could win.  And, start a new party with left over cash.  (not repeat what Pat Buchanan did).