Rangers have almost certainly been a lot poorer this season than the seasons before. The football (which was scrappy at times anyway) is actually horrible, and it doesn't help when a hard working, creative player (Naismith) is out injured, he is such a good influence on the team, if Naismith plays, Rangers are a much better team, there is no doubt about it, I know you cannot rely on one player, but the team have to perform like a team, but since Naismith's injury they haven't. Im just going to compare Rangers to Celtic here, Rangers have a natural goalscorer in Nikica Jelavic, as do Celtic with Hooper and Stokes, they are all great finishers, however, Jelavic isn't getting service, other than the odd long ball, or cross into the box. Hooper and Stokes are always getting service, and they work amazingly well with each other, therefore, Celtic are inevitably going to score more goals than Rangers and get better results.
I don't think it would be the right time to sack McCoist, but he needs to change something, his tactics are not working at all, if Celtic win the next Old Firm, it's game over in my opinion and if Rangers don't win the league this season, I can see McCoist leaving, or maybe dropping back down to a coaching role, with, as Shay said, Terry Butcher coming in.... Walter Smith will not come back.