Well, that's partly fair. There are parts of modern libertarianism that are deeply appealing to conservatives (small government). I'm entirely sympathetic to his stand on enumerated powers.
But the libertarian movement has gone in a libertine direction of late that is not very appealing. There has always, and appropriately, been a strong cultural component to conservatism and the libertarians seek to completely define that out of the party.
Some other key differences: (1) Libertarians tend to support open borders (not all of them); (2) Many Libertarians like Ron Paul are deeply wrong and dangerously naive on foreign policy; and (3) The movement is split on abortion--but a very substantial portion of the movement is as radical as NARAL (except on government subsidies for abortion).
That said, Paul supporters speak at every Republican event I attend here. They are listened to politely. Many of my friends in the local party structure are Paul supporters.
I would like them to stay in the party--clearly, there's no place in the dems for anyone advocating small government in any form. But it would make things easier if they stopped attacking everyone who disagrees with them as totalitarians. Some are (HRC, Obama) and some are not (me). And it would help a lot if they would think thru the consequences of abandoning the 250 year old doctrine of forward defense and the open borders nonsense.
One other point, I'm still waiting to form a final opinion, but the stuff Paul let his name go on in his newsletter looks, on first reports, to be an appalling exercise in bad judgment. Paul supporters should not take other's concerns about that as an attack on his small government principles--it raises serious questions in my mind about his judgment (as does his position on Iraq). He's running for President. It's appropriate to ask questions about character and these are serious questions, entirely apart from ideology.
Don't know much about the Libertarian Party, but their legalization of drugs is a turn-off for me, so am not interested.
But Ron Paul is running as a Republican this time, and yet the bashers often cite his run on the L. ticket as proof that the man is not a Republican.
Sometimes people change.
I once registered as a democrat myself, but that was B.C. (before Carter).
Eisenhower switched from democrat to republican just before his candidacy.
Ronald Reagan was a democrat once.
I see some FReepers admit to being former democrats, but for some reason only Ron Paul is forever tainted with his former membership in another party.