That is my opinion too. He his allowing the Obama machine to burn through their money, with little effect in the polls. In a couple of months, Romney will unleash on Obama.
The risk here is that the Obama campaign will get the chance to define Romney, if that happens, its bad news for Rom. I am sure the Romney camp is out there polling and getting a feel for how Obama's adds are (not) working.
This rope-a-dope wont go on for much longer.
One thing about being a career flip-flopper: it’s hard to define him;)