Lest we forget our history, Pete Wilson won re-election in 1994 with high unfavorables, and the 'Rats stormed back 4 years later. Prior to 1998, CA had 16 years of continuous rule by Republican governors. Maybe the pendulum will swing back in 2006. Maybe.
Very possible.
As stated in other posts, the races for state offices were very close. CA gained 2 assembly seats, lost no state senate seats.
It's like the pendulum had already reached its climax on the upswing for Dems and is hovering and starting (slowly at first, but will gain momentum) swinging back to the GOP.
Never give up!