Part of the problem is the expectations that have been built up for the year / this group of players. During the McDoormat years, coping was MUCH easier since expectations were fairly low and there wasn't the constant chatter of 'final four' potential. Losses now are much more painful because almost every game is a nailbiter (regardless of the competition), our expectations are higher, and many see this year as our 'last chance' at a deep run (I don't necessarily agree with this, but it is our last chance with Niang, McKay and probably Morris).
As far as coping, I also try to focus on the more important things in life like other posters have mentioned. I look at my 5 and 3 year old kids and remember that in the long term a game is really insignificant.
With that said, I also don't want to minimize the impact of sports. Watching and cheering for ISU is an escape for me much like most of you I am sure. We do it as entertainment and a way to have something to get excited about and provide an escape (entertainment) from our daily lives working, studying, etc. Part of that escape is obviously a shared hope for victory, and when we suffer a nail-biter loss, it is very disappointing in the short term. Often, I cannot help but re-run key turning points of the game through my mind wondering why it couldn't have fallen the other way, or why a decision that seems obvious wasn't made. Other than focusing on what's important in the long term, I also avoid CF until the next day as part of coping.