I think that any system that is at its most basic level predicated on the acceptance of a substandard product is doomed to fail.
The two-party system perpetuates itself by removing any real opposition to the status quo. What people fail to understand us that both parties have colluded to maintain a very limited choice in almost any election. Both parties work together to keep those that stray too far from the notion that the present two-party system is adequate to represent us. By limiting discussion to generalities rather than specifics, keeping all "spokespersons" to a predetermined script, and using party authority to quell any deviation from what party leaders believe the message should be, the ability to have substantive discussions regarding any issue is almost nonexistent.
The problem is that when anyone begins to even question the way things are, there are always a substantial number of people who claim anyone who acts in response to the entrenched two-party system just casts a vote to the other side. With this mindset, I'm afraid nothing will ever change.