There is an interesting what if question..
If Bush 41 gets re-elected and Clinton doesn't win, what happens in 1996?
My guess is President Cheney :)
Yeah. IRV would really help the Republican Party. Roughly 20% of people consider themselves liberal, 35% conservative, and the rest undecided (If I recall correctly from a poll I saw). Yet, by manipulating elections, and divisions among people who consider themselves conservative, the liberals have been able to get a disproportionate number of seats in all offices.