I think that Cuomo is trying to show "Party unity" and support Paterson. Since Paterson will go down in flames, (Even against Lazio, lol) he can position himself perfectly for the office in 2014.
Why wait four years if you can have the office today? Besides, if he waits four years, he might never be President. If he runs in 2010, he could position himself perfectly for 2016 (assuming Hillary doesn't run), since he'll have an impressive resume and still be pretty young. Then again, maybe he doesn't want to be President (just like his dad didn't run for the office in 1988 and 1992 when the nomination was his for the taking).