Charles Krauthammer does the best summary I've seen on the
'Moral Values' Myth (washingtonpost.com).
The only evidence for 'moral values' as an election issue is a poorly-designed exit poll question. By lumping all 'moral' issues into a single choice, but leaving other issues spread among several choices, 'moral values' becomes the top issue percentagewise. But if you read the answers a different way, the collection of issues related to 'national defense' or 'the economy' were more important to the exit poll participants.
I happen to believe in moral values myself, but too many liberals are trotting this out as an excuse for why they lost the election but it's untrue. "We lost, but at least we we aren't a bunch of crazy Jesusland idiots", they say.