It looks like Democrats won the Latino vote for Congress by about 2 to 1. Ruy Teixeira argues that this is in line with the slightly more than 2 to 1 margins that Democrats won among Latinos in the 2006 and 2008 congressional elections. It is also in line with Obama's 2 to 1 victory over McCain in the 2008 presidential election. The Democratic margin among Latinos is more disturbing this year than in 2006 and 2008. In 2006 you had undivided Republican control of the elected branches combined with a Democratic wave connected to public discontent over the Iraq War (and to a lesser degree gas prices.) In 2008 you had an incredibly unpopular incumbent Republican President, rising unemployment, a financial crisis that the Republican presidential candidate was obviously clueless about, and an excellent Democratic presidential candidate. This year, the labor market was worse than in 2008, the Democrats were holding undivided power in Washington, Obama wasn't on the ballot, and yet Republicans only made the slightest gains among Latinos.
It is at least possible that a broad majority of Latinos are consolidating around a shared identity as Democrats and that, for most Latinos, the Democrats are becoming the "us" party and Republicans the "them" party. Obama has tried really hard to appeal to Latinos with an almost constant focus on amnesty, even at the cost of alienating some anti-amnesty whites (betting, probably correctly, that amnesty is a low salience issue for most persuadable whites unless amnesty is just about to be passed.) This consolidating of the Latino vote was what Harry Reid's despicable comment about how he didn't know how anyone of Hispanic heritage could be a Republican was about. It seems to have worked out well enough for Reid, but on the other hand, Reid's son was beaten by a Latino Republican in the race for governor - though Sandoval only seems to have done slightly better than Angle among Latinos.
I don't think that the election of Latino Republicans to prominent offices, or even putting Marco Rubio on the 2012 (or 2016) presidential ticket is going to do much to help Republican bring their share of the Latino vote close to 50%. I think that Henry Olsen's insights on the working-class (and I would add much of the middle-class) might be the beginning of wisdom here. Adapting Olsen's insights to the particular situation of working and middle-class Latinos (each an internally diverse category) will be a huge challenge. It is a good start to think about Olsen's categories of "pride in their lives", "fear of being disrespected", and "hope for the future" and think about how conservative messaging could be better. It would also be nice to have some policies that offered tangible benefits.