Eh, while a Paul victory would be pretty great, his supporters appear to be young people, people who haven't caucused before, and independents/Democrats... in other words, probably the three groups least likely to actually turn out.
That's why Obama lost the nomination to Clinton and we're complaining about President McCain right now.
Those three demographics also happen to be the three hardest for a Republican candidate to harness in a primary, the three most useful if aforementioned candidate went against a Democrat in the general election, and the three most unpredictable and thus hardest to poll.
That isn't even mentioning that Paul's supporters are looking far more solid than Newt's (voters who aren't changing their minds, for example) and that he's on the rise while Newt's on the decline.
There's a big enough anti-establishment feeling that Paul could probably overcome that and win anyway. And you have to admit, Paul vs Obama would be among the most worthwhile debates to watch.