The problem with running a hard line WN (White Nationalist for you rookies) campaign is that it won't work on a National level. Sure you could pick up a few States in a Republican primary, which may be more then Dr. Paul will get at this point anyway. I think he is the wrong guy with the right message at this point, and I hope that there are people out there more savvy then me who can harness his support into the beginnings of a more effective movement. When running for the Presidency, you need someone who can get a victory, and to do that you need to get more then the WN/anti-globalist/hard core anti-war coalition that is currently supporting Dr. Paul.
The positive force coming from this campaign is that it shows that between 15%-5% of the people in the Republican party are willing to vote for a guy with his platform, That's proably 2x to 3x more then anyone would have guessed 9 months ago. Now we have to find a way to double that top number and we have a candidate who is viable (and I'm not saying it can't be done with Ron Paul, but the clock is ticking and he hasn't really impressed me much since his disappointing showing in New Hampshire). I think, like many have pointed out, that he is really missing the boat on gaining the anti-immigration crowd. He hasn't gone after them hard enough and many of them are in the Romney & Huckabee camps. If you could peel them off, it makes Paul a contender.
By running an anti-Minority & anti-Zionist campaign, he really wouldn't pick up too many more votes, as most of those people are already behind him. Sure, he risks losing them, but without gaining anyone else, he loses anyway. You can't rule if you don't have a mandate and you cannot get a mandate if you don't cut deals to get enough votes to garner one. I think the best thing he can do at this point is to go ultra hard line in a very public manner against illegal immigration. I know he has good positions on the issue, but not too many people who aren't familiar with him do.