I don't care how noble this looks, if this is real, he lost the election.
Foreign policy is supposed to be his strength and now he wimped out, so it looks like he is scared of Obama and weak? Were his internals that bad that he no longer wants to try to win this election?
McCain has said the country comes before his campaign many times.
This is classic McCain.
How has McCain wimped out? There will still be a debate, and his foreign policy knowledge will still be some strong kung fu. Don’t be hysterical.
This is like my neighbor saying I wimped out on a pool game and doing a victory dance because my house is on fire and I decided fighting it was more important than playing a game.
Precisely because of this, McCain's move is brilliant. Everybody has economy in their mind. Talking about foreign policy --bar the Russians invading London or something catastrophe-- will not switch the topic of the day. By doing this, McCain forces everybody to focus on the economy with him showing some actions. When the economic crisis has been addressed (with whatever policy they might come up with), McCain will start talking about foreign policy again, which as you said, is his strength.