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Like many members of the netroots, I realize that I cannot make a difference at the presidential level. They raise millions from rich people and corporations. My thousands will not draw any recognition, and are wasted on them.
I can make a difference in congressional races. Vic Wulsin in OH-2 is a perfect example. I can give enough to make a small difference in her race against a noxious republican, Jean Schmidt.
We cannot elect a progressive president. The most we can hope for is one less radical than the incumbent, one that won't veto every progressive bill we can pass. But, if we keep pouring large amounts of effort into selected Congressional races, and some Senate races in smaller states, eventually we can turn things around.
This, I think, is the consensus on Firedoglake, and other sites as well. Check out a Blue America session on the site and see it in action.