Republicans won with a Former Vice President, a Former Governor, and a Former House Speaker could do it. Why not?
I mean, Dick Gephardt flopped on the Democratic side. Being House Speaker is an entirely different ballgame in terms of donors, constituency, and support, than winning a presidential primary.
And those other "formers" were more relevant. Like, Reagan and Nixon had both ran for president and barely lost their respective races long before they were cast into the "former" category.
There's also Jack Kemp, the ebullient ex-quarterback and eloquent Congressman. In most states other than New York, he would have had a good chance to become a Senator or Governor. He at least had the tools; he was (and probably still is) a fine orator.
He did run with Dole as the VP candidate. Dole lost badly, but what the heck? Kemp would have been a far better President than you-know-who... unless of course Karl Rove came up with some push polls (you know the sort of question):
"Would you vote for this man if you found that he was a member of the Communist Party/ has a mistress/has an illegitimate child (truth not mattering)?"