If Gingrich wins Iowa and New Hampshire (which looks like a real possibility now), I don't see how Romney can recover.
Would have been very interesting to see a Huntsman endorsement, though. A Gingrich win in Iowa, followed by a Huntsman victory in New Hampshire would be very fun to watch.
Huntsman wouldn't have got the endorsement though - McQuaid is a social conservative. The paper was practically falling all over itself to goad Palin to get in the race earlier in the year - I think she tipped (at least McQuaid off) early because the stories stopped after a bit.