Obviously, this (understandably) almost-unshakable base constituency will serve the President well. It gives him a great advantage in putting together a governing political coalition.
But when it comes to the President's policies, there is less support for Obama's plans than one would expect from hearing the media extol the President's "popularity." (Dick Morris lays some of them out here.) So if there is any blessing to the Republicans' minority status, it is this: We are going to see again (as we did in the late '70's) whether the Democrats' plans for higher taxes, stifling regulations on business, heightened government control of everything and a foreign policy of appeasement work. With the greatest majorities any party has had since the Carter administration, it is virtually impossible for the Dems to have less opposition unless, well, they just legislate the abolition of the GOP altogether.
The good news for Republicans -- and for freedom-loving people everywhere -- is that the Dems' policies don't work, as we've seen again and again. Americans admire initiative, and they love liberty.
It's just a cycle, people. Things are never as good as they seem when you're "up" -- and never as bad as they look when you're "down."