No, Barry. Sen. Feingold did not lose because he got outspent.
Yes, Sen. Feingold got the newspaper endorsements and "won" the debates, but that isn't enough. No one denies that Sen. Feingold's constituent services were first rate or suggests that he didn't work hard. Going through the motions is no longer enough. You have to be on the same page as your constituents and that's where it all went horribly wrong for the Senator.
Russ Feingold is an unapologetic Progressive. Wisconsin voters don't want that right now. They want restraint and deference to the people rather than government. Feingold didn't lose because the rules changed. He lost because he stopped listening.