Are politics so partisan today that a viable third party could become an option?

There's no middle ground. Every issue is black and white, apparently, and there are particular sets of ideals from which one cannot pick and choose because they belong to one party or another. So, whether it be Libertarian, Independent (as a party, yes, I realize that is an oxymoron), Bull Moose, or Republibocrat, in the next decade or two, is it possible that there could be a different option besides bad or worse?