Nothing to do with humiliation in his case. He wont get anywhere in politics now and would be resigned to the back benches. If he goes now I am pretty sure he will be able to trouser $$ with directorships etc (Just look at Milliband for an example).
As for the so called Tories, I said this would happen ages ago but was shot down. This is what happens when you allow liberals to take over. The Tories have become Labour Lite (New Labour) and are moving more and more towards socialist labour. Now all we have are two cheeks of the same ***, not choice at all.
We either need a new Party to emerge to cater for the centre right proper Tories or for someone to pull the Tories back where they should be in the political spectrum. There are some good traditional ones, Baddenhoch and Braverman spring to mind.