Liberty for Sale getswhich has a rather notable strategy shortcoming of the Libertarian Party’s presidential nomination process:
The Libertarian Party should not have a National Convention in 2008! Now that I have your attention, let me assure everybody who is reading this message that I am not a neocon saboteur hellbent on destroying the Libertarian Party. I recommend that we hold our National Convention to nominate a presidential candidate for 2008 in 2007.
This was our practice from 1976 until 1996. The arguments for the change seemed plausible at the time, including more publicity in an election year. Since then it has been proven conclusively that the establishment media is our enemy and will not give us fair coverage.
I agree the LP should start early and nominate the presidential candidates earlier than four or so months before the election — and a year earlier is perfectly acceptable given the marketing hurdle the candidate faces. However, that doesn’t mean throw out the 2008 convention. In fact, I think the LP could strategically use it to hype the candidate, similar to how the DNC and GOP — having decisively chosen their candidate in the primaries — use their conventions as a way to get lots of media coverage.
ARTICLE 14: PRESIDENTIAL AND VICE-PRESIDENTIAL CAMPAIGNS
1. Nominations of candidates for President and Vice-President of the United States may be made only at the Regular Convention immediately preceding a Presidential election.