That's only the third change of government in my lifetime, and the second one I remember. I don't like the introduction of fixed terms, I like the threat of dissolution. I suppose that threat won't actually be removed (a 55% vote for dissolution will trigger it I believe), but it's a shame that the debates about when the party in power should call an election will be removed - Brown's travails in 2008 and onwards effectively sprung from his indecision regarding such matters.
Looking at the outcome of the election pragmatically, aside from my disappointment at the loss of seats for left-leaning parties, it's not bad at all:
1) The Tories may be in power, but they don't have a majority.
2) The coalition has allowed the enaction of some Lib Dem policies which were unlikely to get near the statute book otherwise.
3) The coalition also therefore blunts some of the excesses of Tory policy.
4) The removal of some of Labour's more tedious laws.
A couple of things to watch out for too:
a) It's all friendly now, but will Lib Dem Ministers be treated fairly?
b) What happens when the unexpected crises occur? Planning a coalition is fine, but I'm sure events, dear boy will cause friction soon enough.
c) What will Nick Clegg actually do as DPM?
d) What will the effect on supporters of both parties be?
Interesting times.