Don't believe that "its a 50/50 country" crap. Thats typical September 10th thinking. The country is leaning slightly right and recent polls also corraborate this. Also, the 2002 election should have been a win for the democrats, yet it was one that was one of the worst defeats in American political history. That middle third of the country realizes that 911 changed everything and we can't screw around anymore. The democrats don't get that and its apparent because they are going to nominate the hateful Howard Dean.
Now, your point about resting on our laurels is right on. The left relies on their political machine to keep themselves in power. Using the wholly DNC-owned media, the unions, and government schools, they can win some elections. And when that does not work, they steal them. And when that does not work, they shop bunko lawsuits to political hacks acting as judges.
I'd say that the country is probably 55/45 or even more on the conservative side at this point. The two things that have kept it close are a) buying of votes and corruption at the polls; and b) news media that have grown more and more biased by the hour.
But it looks as if the media finally may have gone too far. You won't find the average non-political joe six-pack saying that all the media are liars, but they unconsciously trust them less and less, the farther they all go out on a limb. The internet makes it harder to lie, but the obvious viciousness and nastiness of the way they treat Bush and others whom they hate probably reaches more people.