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Based on exit polls, a lot of the difference seems to be people who voted on "morals" (probably a catch-all for religious right issues like gay marriages, premarital sex, etc.) -- they voted overwhelmingly for Bush.
My guess (near certainty) is that the Dems will drift to the right, culturally, and the Republicans will probably pander even more to that point of view in an effort to distinguish themselves.
From my vantage point, this is a disaster, mitigated only by the fact that Bush will not easily be able to dodge the blame for what his policies will bring (or credit, should there be any). Even worse, I suspect it will continue the polarization of American society. When Roe v. Wade gets repealed (and with conservatives continuing to appoint SC justices, it is only a matter of time), it will get interesting. I'm not looking forward to that, but... if I must fight in a culture war, OK, I will.
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