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We're about due for a viable 3rd party candidate to make a serious run at the Presidency. The cycle is 16-20 years, and the last one was Perot (sorry Nader supporters, but less than 5% just doesn't cut it). Before that Anderson and Thurmond immediately spring to mind.
The big problem that 3rd party candidates have is organization unless they're running on one of the perennial party's ticket (Green, Libertarian, etc.). If it's a new party, only Perot has managed to put together enough grass-roots level workers to spread the word and, more importantly, get on the ballot in all 50 states. If you can't get on the ballot, you can't be elected. The greatest success that any 3rd party candidate can hope for is the mass defection of a portion of one of the majors complete with the command structure in place. That's why TR had such great success, as well as Lincoln.
As much as we all may favor third parties, at least in theory, the only way to make a change is to start working for one. Waiting for it to spontaneously spring to life just isn't going to happen. Five years ago I would have told a third party that wanted my opinion to just wait for the Democrats to implode and then pick off whatever pieces they wanted, but the current administration has managed to breathe life into that confederacy very effectively.
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"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." - B. Franklin
"There ought to be limits to freedom." - George W. Bush
"We have met the enemy and he is us." - Pogo
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