Two problems I have with Rand Paul are that he's not really that fiscally conservative (see the weak BBA proposal he drafted, when he could've just voted to decentralize the national debt and national land) and he's too much of a militarist as he only proposed cutting the military budget by about 10%.
Rand Paul's budget would balance in five years. That's 25 years earlier than VP-nominee Paul Ryan's last budget. He wants to cut at least two federal departments. And cutting 10% from the military is 10% more than most people in Congress want to cut.
Look at the things I just listed. Those would be huge cuts compared to the non-cuts that have happened for the last 70 years. If Rand goes in guns blazing like his dad, he will lose the support of the fine-liners who may want to cut something but not everything. Some people need to have their hand held back on the path to finding The Constitution and small government, and that's what Rand is doing.
Look at how much praise Rand gets from the same people who talk trash about Ron. Rand has a very similar voting record as Ron, his talk and ideas are similar for the most part, yet half of the neocons love him.
So Rand says he wants to cut 10% of the military instead of 20 or more %. Rand says he wants to eliminate two or three federal departments instead of five. Rand says he wants to audit The Fed not end it. These are baby steps to constitutionalists and fiscal conservatives, but they are huge steps overall.
Rand isn't as "pure" as his dad, but he's a much better politician. Who else has a better small-government voting record in Congress than Rand Paul? Not many, if any.