The biggest upside to Obama's win is that the Supreme Court will stay more or less balanced. It will either be 5-4 conservative or 5-4 liberal, either of which is fine with me. If Romney had won, it could easily have gone to 6-3 conservative, which would be very bad.
Otherwise we're back to business as usual. They'll postpone the fiscal cliff and then continue to kick the can down the road, maybe all the way to 2016. I don't expect much change.
One lesson the GOP *must* learn from this (and probably won't) is that the nutcases with the big mouths, like the Tea Party and the Christian Right, will continue to dog them and cause them to lose elections. America finally got sick of the Tea Party and booted many of them from office. A couple of those losers helped themselves out the door with abjectly stupid remarks about rape. I know many, many fiscal conservatives who don't GAF about abortion or gay marriage or any of the other nonsense the Christian Right screams about. They keep seeing their opportunity to get the country back on a fiscal path they can live with ruined by the social nutcases.
The Tea Party loudmouths are also a dying breed now. Romney shot himself in the foot by picking a radical Tea Party darling like R-Ayn to be his running mate. The fact that R-Ayn was muzzled for most of the campaign is evidence that Romney suddenly realized he screwed up with that choice. He'd have been better off with almost any other person on his short list.