Why not? Why on earth would Ieuan Wyn Jones, Nick Bourne and Mike German not do a deal and turf Labour out of office into the the Siberian wilderness, that is opposition. Where are the deal breakers.
There isn't a big one for me. I just want to see Labour in opposition and 'government by common sense'. But I always thought there was a deal breaker (easy to cope with) for Plaid Cymru and another one (more difficult) for the Lib Dems. I don't think that plaid's demands for a referendum on Scottish Parliament type powers for the National Assembly should be a real problem for the Conservatives. After all, it would only be a referendum and the power to act lies at Westminster. I'd go with it.
The Lib Dem's demand for Proportional Representation in Local Government is much more problematic. I have always been opposed to this. I served as an Independent councillor for 15 years myself. The Tories won't like it. But if I was at the negotiating table, I'd accept it. And there would always be the consolation that the number of Conservative Councillors would rocket as a result - and Labour would lose the grotesque hegemony it has enjoyed for many decades on so many Welsh Councils. I'm warming to the idea as I type. Just do it boys - for me as a leaving present.