The problem is that a Blairite Party led by someone like Hillary Benn, would be very electable, they would have the complete support of the media and the electorate are willing to support anything which they "think" gives them a voice.
What we need to ask ourselves, is electability that important if we are to be represented by a bunch of self-serving career politicians?

The rank and file of the Constituency Party want a Party which reflects their views, regardless of short term political success. As I have stated before, it will take years for people to come to terms with what socialism means.
A split would be best for all concerned.