When you add those factors to his overall campaign, I think the issue many have with Perry is the same as with Romney or Gingrich, the trust factor. Most voters don't believe the candidates who are calling themselves “Conservative”.
For now (and maybe for good), Santorum is the most believable.
I've maintained all along that Perry's plunge isn't due to the media or some huge mistake by his campaign (or it's supporters). Perry did this to himself, with his weak defense of previous policy positions and his ongoing misstatements. What I don't know is if he really is this bad a campaigner or he just never truly put in the effort. Looking back at his campaigns in Texas, I don't think he needed to be a great campaigner in order to be victorious. As we all know, things are quite different in a Presidential campaign.
I think it's both. But I maintain he never wanted this from the beginning...he didnt want the risk of going down with the ship if the holes can't be plugged quick enough....and especially since he rides high in the Texas saddle as Governor. He'll have a great legacy remaining in Texas....and few would trade that off for taking on where our nation is now.. who want to retain their political posts.
That's another reason I'm in Newt's court....he's not in it to make a name for himself for further political points...this is his baby here and now and he has nothing to loose by giving it his all.