I dont think thats the problem, and I dont think GWB will pick up that many votes based on Israel, the war on terror perhaps.
Hillary wasnt about Israel. At the time the peace process was in full gear, supported by most liberal US Jews. The Oslo War (aka al aska intiftada) had just started. If it was disappointment with Israel policy, they wouldnt have overwhelming voted for a continuation of the Clinton policy under Gore.
Hilliary kissed Suha (sp?) after uttering a version of old libels (poisoning children) and was outed over her *ew bastard comment. She came off as a Jew hater. That was the issue, not Israel, and yes, that hatred will often transcend the liberal bias of many Jews.
If the Reps pick up Jewish votes it will be from demographic change, particularly economic and tax policies which appeal to younger voters. A backlash against perceived liberal anti-Semitism, yes, but I dont think its perceived yet. Support for Israel, in the top 5 issues perhaps.