Some follow-up questions:
What would constitute a reinvention for the CPI etc? They are after all, by definition, wedded to a particular ideology. If their problem is intellectual bankruptcy (as opposed to strategic errors or just plain hypocrisy), then what is an alternative Left intellectual basis? A revival of the JP, or at least JP? While that suits me quite well, that seems even less likely.
What worries me is that the voter, in seeing through the flaws of the Left, might not be seeking a more vibrant Left, but might be, like the voter in the USA, accepting the cynical choice between two largely capitalist/neo-liberal parties. I fear that the demise of the JP and its off-shoots (not counting the BJP), the possibly self-inflicted exit of the CPI, the weakening of state parties, will all lead to a US- style reduction of options and democracy -- hence my drawing parallels between the Dems and the Congress.
--ravi