The usual fear tactics and dirty tactics were used by the opposition and the Americans. The spread of disinformation, from the notion that Chavez was going to ban miniskirts to Chavez was going to take your firstborn, was pervasive. There were small-scale capital strikes, threats of a new coup, and other abuses. But the Bolivarians had defeated those tactics in the past and many of them had already been exposed by a much stronger Bolivarian media strategy than ever before.
What good can come of it? One of the best things that could happen in Venezuela, as unlikely as it is, is that it could make socialism, popular participation, and democracy seem like normal things, normal options for a society to choose - if not for elites or for the US, for Venezuelan and Latin American peoples. Instead, every time there is an electoral process, there is polarization, a sense that the whole revolutionary project is in the balance, the whole future is in the balance and imperialist violence is hanging overhead, and that voting against Chavez is to side with these reactionary imperialist forces. If, instead, this vote could be seen the way Chavez is presenting it, as a defeat of a specific proposal "for now" (one of his famous phrases), in the context of an ongoing process, that would be a very good thing.
There are two related weaknesses in Venezuela's revolution. The first is the absence of highly visible leaders with a national television profile and ideas of their own, that are in Chavez's league, that are a part of the revolutionary process, but that might have slightly different proposals or strategic ideas. This is something that revolutions have always had a hard time producing - it always seems to focus on a single person.
The second problem is the difficulty, again largely created by the US and imperialism, in having a space for dissent within the revolutionary process. Oh, it is true that the Bolivarians are incredibly tolerant of the opposition, allowing speech and acts against the government that would not be tolerated in the US or Canada. Much harder though, and unclear how to accomplish, is for there to be debate within the movement about specific proposals without one side or the other having to go over to the opposition. In a context where the opposition has some 3.5 million voters, plus tremendous media power, foreign financing, and ultimately military backing, that is very hard to do. But this referendum outcome could help. It could actually split the opposition voters, by showing that Chavez isn't a dictator and is willing to accept a democratic result, something the opposition has been unwilling to do.
Support for the Bolivarian process could well be deeper than support for this referendum, and potential support for it is even greater (given the high abstention rates and the outcome of the last presidential election). We've always known that the Bolivarians were the more democratic of Venezuela's two sides. Accepting this defeat and carrying on with the process is bound to demonstrate this to many.
http://www.zmag.org/sustainers/content/2007-12/04podur.cfm