No, if Romney fails, the GOP-e starts searching for an alternate to Romney.
Second, any candidate can beat Obama. Gingrich, Santorum, wet dishtowel, Ron Paul.
Third, the Gingrich campaign is dying. It cannot beat Romney’s money machine. Romney HAS to go, even if it means handing Gingrich votes to Santorum in AZ/MI.
Santorum IS the alternate to Romney.
His record is 100% establishment.