Some other ways Chavez could try to make things go:

CARACAS, Venezuela - President Hugo Chavez remains determined to transform Venezuela into a socialist state despite losing a vote Sunday on sweeping constitutional revisions. Here is a look at some of the key ways Chavez is able to exercise his authority to bring about changes.

• Through laws approved by the National Assembly. The congress has been dominated by Chavez supporters since the opposition boycotted 2005 elections expressing concerns about a lack of guarantees for a fair and transparent vote. Seven of the 167 lawmakers have since broken ties with Chavez.

(source:  Yahoo News)

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In some ways, the "enabling" law isn't all that different from something like "fast track" trade negotiating powers sometimes granted the president of the US.  The difference is that the Venezuelan legislature has granted Chavez significantly expanded powers above and beyond "fast track" - an outrage similar to Congress adbicating its authority to declare war prior to the Iraq scenario. 

Of course, the food supply issue in Venezuela is showing that Chavez's changes are proving anything but sustainable.  Going forward, Chavez's attempt to force all leftist parties into one tent (his) and his party's complete control over the CNE are his greatest levers of power.  Realistically, only the military and the non-Chavista populace are counterbalances.  While the opposition is frequently seen as being weak, they were almost 40% of the country last year and 51% (or even 60%) now.  They are also disproportionately middle class or upper class, educated, and "of means."  They have power (and a more realistic vision for Venezuela) but are going to have to fight for it.