Over at Balloon Juice they are composing a left-blogospheric dictionary. Last night they were discussing the current meanings for "liberal" and "conservative." But I stopped reading at the 6th comment because I think El Cruzado nailed it perfectly:

Conservative: anything that self-proclaimed conservatives like or are in favor of.

Liberal: anything that self-proclaimed conservatives dislike or are against.

Anyone looking for a more coherent or consistent stance is missing the point.