@revelette2,
It is not late in the race. The Iowa caucus is February 1. That's right, February of 2016. The only thing Biden has missed is the Iowa State Fair. At this point in 2007 Barack Obama was spinning in circles, unable to gain any traction. He probably has until the end of September to make a decision.
I will say that his understanding of the requirements of the position and the sacrifices on his family and his seeming lack of desire for the job make him more appealing to me.