If Reagan were running today he would be in the same boat as Hunter but at least they would both be in good principled company.
http://politicalticker.blogs.cnn.com/2008/01/03/hunter-stays-in-gop-presidential-race/
January 3, 2008
Hunter stays in GOP presidential race
Posted: 11:12 PM ET
(CNN) Rep. Duncan Hunter will continue his bid for the Republican presidential nomination despite his last place finish Thursday in the Iowa caucuses, his campaign manager tells CNN.
Absolutely, he is staying in, Roy Tyler, the California Republicans top aide, said in an interview late Thursday night. We actually predicted we would not do well in Iowa. We were not expecting a lot. That is why we did not put a lot of resources into there.
..... The California Republican has already announced he will retire from Congress at the end of the year.