At this point, I think that the likes of Cruz have a better chance than Christie. (I'm not saying that Cruz has an especially high chance of winning, just that Christie's chances have collapsed completely).
1.) He is the least liked candidate. He's even worse off than Cruz.
2.) Between Bush and Romney, there isn't room for him either in the electorate or in fundraising.
3.) He lacks discipline, he's likely make gaffes.
I think his best hope is a scenario where Romney doesn't run and Jeb proves to be a paper tiger. Barring that, I'd agree that his path to the nomination is narrow.