Either way, it doesn't hold up for 2012 because Huckabee, the 2008 runner up, stayed out of the race.
Huckabee was not "the" runner up, he was "a" runner up. Romney came in second in both caucus and primary votes to John McCain. Romney came in third in delegates because a rule in the MI bylaws requires that it's delegates must be alligned with someone currently in the race, so when Mitten's dropped out the MI delegation immediately swung to McCain. If you include the MI delegation with Romney, I think he was either tied or ahead of Huck in delegates as well. When Romney dropped out, he had many more delegates then Huck. He lost the MI delegates instantly and Huck won KS, and some other states that I can't remember, in February.