David Frum mentions, in his interesting conservative take-down of Rush Limbaugh, that Republicans dominated the college-educated vote in every presidential election since the inception of exit polling, until 2008, when Obama beat McCain by 8 points among B.A holders.
Reagan also dominated the youth vote, though the pendulum has since swung heavily the other way.
The Republican party's recent attempts to find its own Obama resulted in the unfortunate televised State of the Union response by Bobby Jindal, and RNC chair Michael Steele's awkward and widely mocked attempts to connect to "hip-hop" voters.
In the meantime, Limbaugh has been there to shout as the party floundered for real leadership. The GOP could certainly do with more Frum and less Limbaugh right now.