The last time Youtube and the Blogosphere etc had a big impact on the election was during the macaca incident with George Allen campaign for United States Virginia senate. Ultimately George Allen lost the election with a thin margin of 9,339 votes and if the macaca incident hadn't happened, perhaps George Allen would have been in the Republican presidential primaries. Even the Republican Senate Internet campaign handbook spelled out various ways to avoid future macaca moments.
Interesting the Internet is helping second rung candidates like Ron Paul to reach a wider audience. Ron Paul has been consistently winning the post debate online polls, because a huge boom in his online popularity. The mainstream media has mostly ignored Ron Paul and this has driven his supports to use the Internet for propagating his message. Ron Paul has huge following in Youtube, Myspace and Facebook.
His supporters are using Eventful for organizing meet-ups and rally's. Ron Paul videos are making it to the top Youtube and his name is one of the most searched terms in technorati consistently. It will be interesting to watch his progress over next few months and see how much impact the grass root strategy of using Internet has in the long run.