The only clear development of the GOP presidential nominating process is that there have been no clear developments. Much like the weather in the Midwest (if you don't like the weather wait 15 minutes and it will change) the leader board in the GOP race for the nomination fluctuates monthly.
I tend to agree with the analysis of Erick Erickson of Redstate that there is Mitt and non-Mitt. Mitt's ceiling lies somewhere in the 25% range. Where you believe the 75% non-Mitt voters will go is impossible to prove. However, Ron Paul's slow and steady burn towards first place and the wild swings in the 'flavor of the month' non-Mitt candidate in Iowa suggests that the 75% is largely in play.
What is becoming a distinct possibility in the process is that well-funded candidates like Paul and Romney and less organized candidates like Perry or Gingrich could carry the nomination through the usual states and Super Tuesday with no one holding a majority of delegates. This would leave candidates to view the nomination process as one of unique process of capturing delegates within different state processes. Politico's story on Ron Paul suggests that his campaign team is already taking this approach.
New rules on delegate assignments with primaries and caucuses also virtually eliminates the possibility of someone wrapping up the nomination early. In order to crack down on the ever-earlier primary and caucuses of states, the national GOP imposed stiff penalties and rules on states that choose to hold their elections before Super Tuesday in March. This means all those states get half of their delegates and that the delegates have to be assigned proportionally - not in a winner take all manner.
If no one has 50%+1 of the delegates going into the convention, then the horse trading will begin. Candidates will offer their delegates in exchange for something (cabinet appointments, vice-presidency, etc.). How such a convention would turn out is anyone's guess. Of course, it is entirely possible that a person would emerge who wasn't even running. (I admit to not being familiar with how the GOP has set up their voting rules except to say that others more in the know see this as a way of having Gov. Christie or Daniels still capturing the nomination).
I believe Ron Paul is the lynchpin in forcing a brokered convention. Clearly, just as in 2008, he will run in each and every state and territory. From Maine to Guam and Alaska to the Virgin Islands. He has an almost unlimited funding apparatus and supporter intensity to challenge anyone all the way to the end even after he has missed any chance of winning. If he acquires a large portion of delegates, let's say 25%, Mitt Romney gets 40%, and Gingrich et al get 35% early on then candidates will be encouraged to linger in the race for as long as they can in order to have a bigger voice at the convention.
Dropping out and endorsing a Romney or Gingrich without being sure which one will capture the nomination might be risky. At a minimum, I think you'll see candidates hang around at least through Super Tuesday since even poor showings would give them something to bargain with. Even 15 delegates might be the difference in putting someone safely over the top heading into the convention and avoid a raucous floor fight.
Imagine the following scenario with completely made up numbers that don't reflect true delegate counts, simply the math of a convention:
Romney:400 delegates, Gingrich:285 delegates, Paul:250 delegates, Perry:40 delegates, Huntsman: 15 delegates, Bachman 10 delegates, Santorum:7 Delegates, Johnson:2 delegates, Roemer:1 delegate.
In this scenario, even if Romney gets the support of every remaining candidate outside of Gingrich (who would have the least reason to deal) he falls short. Even if you fip positions for Romney and Gingrich you get the same result. If we change the delegates to 485 for Romney and 200 for Gingrich you can see how Bachman and Santorum or Huntsman and Roemer could push Romney over the top.
There are obviously hundreds of moving parts and opportunities for people to capitulate and hand over their support and maybe go for that plum ambassadorship to Australia or France. However, it is still a small possibility that the convention could be meaningful for the first time in decades. I tend to think it won't happen because it requires 3 fairly solid candidates (even if maybe the third is a collection of the rest capturing enough delegates to easily prevent a majority). After Michigan's primary in February I think the picture will be much clearer.
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