Pretty fair assessment, but I would think a disturbing one for conservatives. I'm not taking shots here, I just don't see anything motivating out of that bunch. Bachmann has no real shot - as will be pointed out when these candidates start taking shots at each other - Pawlenty is not a formidable candidate and will be exposed as being tricky more than truly conservative in his experience. Gingrich is an embarrassment personally, Trump is too volatile (although I like some of his ideas).
For me, that leaves Romney, Barbour and Daniels. At this point if I had to place a bet it would be Daniels with the nomination. Which is good and bad for electability - he seems boring but a good steward of conservative ideas. Romney is a pretty strong candidate from the podium, but he couldn't win last time - and what has he done since to get more people behind him? I don't know... maybe one of the new young guns - there is much talent and promise in the young ones he mentioned. Positive for the party moving forward, I grant you.