I'm not sure, but I think Bush is overrated.
His family name and policy positions will weigh him down, but perhaps more importantly is that his reception by the establishment has been lukewarm. Look at the
endorsements he's received. Looking at current major office holder endorsements (Senator, Governor, or Representative), he has about
one third of Mitt Romney's support at this point in the 2012 campaign, and about a sixth of John McCain's support at this point in 2008. This indicates that a lot of the establishment is holding off, seeing if a better alternative emerges.