As it stands now a Liberal & NDP "coalition" won't give the Liberals the 155 seats for a majority. They're short by one. So they'll have to either sway the lone independent MP or get a few Conservative or Bloc MP's on side for some issues. The Liberals will have to make it work because I don't think the Canadian public will tolerate another quick election. Coalition is probably not the right word for the cooperation with the NDP. It won't be formal like in other countries. In say a budget vote the Liberals could easily put enough stuff in there for the NDP and the Bloc (left leaning party) to vote yes for. Some of the more soft Conservatives could also be swayed for certain social bills.
The big failing of the Conservative party is their Conservative social platform. Despite being the new Conservative party made up from the old Reform/Alliance and Progressive Conservatives, the party has retained many of the hard conservative social values that are a hard sell in Ontario. They're the farthest right of the major political parties in Canada though still left of the US' Democrats. It also doesn't help that the leader is a former Reform/Alliance member. If the old Progressive Conservatives still existed we may have been looking at a PC majority this morning.
The Liberals should be kissing our Ontario butts today for the 77 seats they won, in particular Toronto. It would be nice to receive some attention (read tax money) for a change to better fund our transit and take care of some expensive waterfront redevelopment (small scale Boston "big dig" to bury the expressway by the lake.)
My vote was easy. I already knew that our riding would go Liberal without a shadow of a doubt so I got to give support outside the major three parties. Hopefully they got enough popular votes to get federal funding for the next election.