Romney is running primarily based on his supposed electability (which is why the amount of money he brings in is so very important), but that ignores the fact that he is unnominatable. It really is the Sharon Angle dynamic. The social conservatives simply will not vote for a mormon cult member. It's not a political decision to them, it's a religious one.
That leaves Ron Paul and Bachmann as Perry's only significant opponents. Neither can get over 20% of the Republican nomination voters. I think we will see Perry for President with a veep who is attractive to the money Republicans. It'll be interesting to see if Perry can bury the hatchet with Karl Rove and the Bush people. The Republican desire to win over Obama is going to be one of Perry's strongest selling points.
Perry's shift to the center after locking up the nomination is going to be eye-ball jarring, but the right-wing media will facilitate it by burying all his pandering to secessionists and to the tea partiers. Anyone who dares bring those things up will be attacked.
Perry locked up the social conservatives with his christian "renewal" service last week. And as a Democrat who changed parties to the Republicans he has crafted an image that he will never be out-flanked to the right.
Sneer if you will, but from what I have seen Perry is probably the most talented, determined and well-organized politician on the Republican national stage. He will give Obama one hell of a run for his money.
And remember, I say this as a Texas Democrat. Do not underestimate what Perry brings to the table. John Henry at 12:58 PM has the right idea.
I do not know if there is enough "Texas Fatigue" outside of Texas in the colonies ... uh, the rest of the US ... to be a barrier to a Perry win for President.
Here, from Redstate, is a conservative view of Rick Perry. This is, of course, during the primary season, though, and may not last beyond that time.