Huntsman just wants the Senate seat when Hatch croaks.
There is absolutely no way that will happen. Chaffetz will likely take it - I also see Love ascending to the Governor's mansion in 2016 or 2020 when Herbert calls it quits.
Personally, I would love for Mitt to give it another go, but I know it's not very likely, and I would hate risking the embarrassment of him losing in the primary.
Chaffetz will definitely take Hatch's Senate seat, but I don't think Love will become Governor; there's better, more experienced candidates that would be able to win nomination. I'm thinking that one of the State Senators or a mayor will become the next Governor.
Huntsman has no chance though, yeah. Agreeing to become one of Obama's ambassadors killed his political career.