@JPB,
So many anti-'s.
That was a big part of the premise of my original post in the Obama '08 thread, that Obama was the first person in a long time that I could see myself voting FOR, instead of just voting to keep the other guy(s) out. (I liked Kerry, for example, but in a very Finn&Mitt way. My motivation was much more to get Bush out of the White House than to get Kerry in.)
And that really affects voter engagement, which really affects things like the ground game.
Of course Obama will probably have less engagement this time around, too. Still, I think it makes a difference.
Meanwhile, the problem with Huntsman is that he's always going to be not anti-
Obama enough. He's too closely tied in terms of experience obviously (ambassador to China), but also policies and especially temperament.
Moderates will have a harder time deciding between Huntsman and Obama, but chunks of the base will just throw up their hands or write in Gingrich.
So the "electable" thing won't last long, I don't think. Huntsman looks more or less electable depending on who you contrast him with. (Contrasted with juvenile, facile, pandery Republican candidates he looks good. Contrasted with Obama in a general election, not so much.)