> I view it as an experiment in what happens when common sense fails to win in an election.
I see it as that combined with a poor electoral system. Common sense wasn't on offer from either major party at the last General Election, the main party offering it is now rather minor and considered tainted through the last coalition, and others (Green etc) are tiny.
The small parties are held in check by our antiquated First Past The Post voting system which disenfranchises all votes but the winner in a given area.
So people are faced with the old dilemma - I'd like to vote for C or D really, but if I don't vote for A, B is likely to get in, and I hate B. I really hate B!
> Was it realy project Fear
There was definitely an element of fearmongering, and there has been ridiculous hyperbole on both sides of the argument. I believe outcomes will be a net negative, but also that you can't really take anyone's forecast seriously.