Is The Conventional Campaign Dead?

A couple weeks ago, Dan Balz noted that GOP candidates aren't spending much time in the early states. Dana Houle added that on the ground operations and TV ads don't seem to matter as much as they once did. Ryan Lizza ponders the impact:

[A] campaign process that relies less on paid advertising and retail politics and more on delivering one-liners at debates and stirring things up on talk radio is one that is especially well-suited for what might be called “politainment” conservatives like Michele Bachmann, Herman Cain, and Newt Gingrich, and not so great for successful governors like Tim Pawlenty, Jon Huntsman, and Rick Perry.