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What say you?
That bit about "your one single vote can't influence an election" is a misinterpretation of the Prisoner's Dilemma problem that gave rise to the myth.
Not really ... but that in itself is worthy of its own post, so I'll respond (hopefully) later today. A bit too tired at the moment for something I have to think about.
The following article also looks at whether protest votes are wasted or not in the context of the upcoming UK general election which all polls suggest the conservative party will win.
With small parties winning numerous seats lately at local election and european level there is a good chance to affect the policy of the winning party by proxy through showing support for a smaller party.
http://www.darkpolitricks.com/2009/11/are-protest-votes-wasted-votes/