There are those who will never get over his Mormonism, but they probably have plenty of other hang-ups. I see it as an advantage if he plays it right. I’m also sure a lot of people voted for McCain because he was familiar and next-in-line. Romney has a real chance to spend the next four years being like Newt (without the personal baggage) and getting a book or two out and being on the speaking circuit. He could be a heck of a fund raiser for other candidates.
I have trouble with that “next in line” mentality. In my world “best in line” should be the tag.