Disagree with you there 4Salt...

First, incumbents -- like it or not -- have lots and lots of intrinsic advantages over challengers. Some are clearly fund raising related (and publicly funded elections could help, and I support). But they also have media coverage + "informational" pieces they send on our $$$'s during their tenure which builds name recognition. For many people who aren't policy wonks, name recognition is important. Second, it makes "cozy" relationships with politicians far more difficult to establish as new blood necessarily sweeps out the old relationships. And perhaps most of all, term limits would change the focus of the job -- from a career to a public service done for a more limited timeframe. I think that is a very VERY positive thing overall. If only because it would make these positions more attractive to the sorts of people who would never consider a candidacy in the pool of career politicians we have running the show now.
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The charm of fishing is that it is the pursuit of what is elusive but attainable, a perpetual series of occasions for hope. -John Buchan