If you remove Allen from Presidential consideration, then please remove McCain from your list as well. I'd say the Keating 5 scandal is just a wee bit more serious than some alleged, media-driven racist remark.
We are always talking about the MSM spreading BS that damages someone, and then some of us deny that the MSM has spread BS that damages someone. Looks like they've succeeded in this case, and the problem is that Allen has a relatively low profile compared to other potential candidates, so this is many people's first introduction to him on a national level, and it's a bad impression. That ain't good, and is potentially fatal, like it or not.