Long story short, pre-election I thought of this as a totally quixotic undertaking but it now looks to me like it could realistically happen in the short-term if people organize for a presidential election year. Running the play again in 2012 might just disgust people so maybe 2016 would be the better target year. Or else maybe 2012 in a different state. Either way, I promise to be more engaged next time.
My understanding is that legalization will be* on the ballot in Colorado in 2012.
*Obviously with all of the caveats regarding the ballot access process