I don't think you could have generated the type of interest from people without hoping that Ron Paul would win.
If Ron Paul does not win the nomination it is important to feel that sting of loss so that you understand the stakes. If you went in like the Libertarians, knowing you will lose, I don't think you will gain interested youthful followers.
Once you are sold on Ron Paul's message, who is your second choice? Everyone who is voting for Ron Paul is forever ruined for the poll driven candidates. You can't offer meaningless platitudes to people who expect reason and reasons. "What Change?" "Yes we can what?" etc...
So hoping for Ron Paul to win, to the bitter end is important. In the end, Ron Paul will be remembered for planting a seed of truth. I hope we look back fondly as we do at other American heroes who changed the course of history. I fear that we will look back with regret at what might have been had more of us stood together.
You may have a point about generating interest through the belief that RP will win, so I guess it's a damned if you do/damned if you don't situation. Once that belief that RP will win has been shattered, the interest is lost as well.