Ming's departure - bigger than you think

It all happened a bit quickly last night - after a two part squeeze in the poll (but mainly a Tory squeeze) Ming Campbell resigned as leader of the Lib Dems. The leadership campaign and the subsequent direction of the Lib Dems could be a minor yet decisive decider of the next General Election.. Do they go right and fight the Tory ground or go they go far left of centre and fight against Labour. Interesting times - can the Lib Dems fight and expand or will they go back to the pre-1997 level of MPs?