A Modern Whig View on the British General Election

From the Modern Whig blog:

But because the UK's somewhat dysfunctional electoral system, even though Labour is third in most polls, they could come out with the most seats (though still not enough for a majority)...We American can relate to such confusion. The UK has a electoral system similar to our "Winner Takes All" system called "First Past the Post" which limits the ability for third parties to win a great deal of seats. Most in the UK predict if the Liberal Democrats do well, they could form a Alliance government with Labour and in return they will likely demand election reform to move the UK closer to a proportional voting system (which favors smaller parties like the Liberal Dems). So what can the Modern Whig Party learn from this? Plenty.