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Eric Cantor looks like he'll ralley enough support to defeat Boehner and kill the bill. Then the likely outcome is that a new bill will be drafted by the 113th Congress and bring the limit back to $200K/$250K. Republicans will also oust Boehner and make Cantor the new Speaker.

Wait, what? What's the reasoning there? If the Republican-led House isn't going to buy a $400k/$450K limit, they're certainly not going to draft a new bill with the old $200K/$250K limit. Or are you taking about the Senate drafting a new bill (in which case it'll be DOA in the House anyways, for the above reason, if it even gets out of the Senate)?

As for the thought of a Speaker Cantor, at least Boehner has a small, tiny, infinitesimal shred of governmental responsibility -- a Cantor-led House would truly be the insane running the asylum (not that they don't already, but that would really strip off whatever veneer of credibility is left. Which, as you point out, may have been the real Dem strategy all along)