Noam Scheiber explains why Newt isn't finished yet:
Unfortunately for Mitt Romney and the anxious Republican establishment, [Gingrich] appears to have flamed out too soon–which is to say, soon enough to give him time to recover a bit. …. Newt has basically stabilized himself in New Hampshire and South Carolina. More impressively, given the barrage of incoming he took there, Newt appears to have bottomed out in Iowa early last week and is enjoying a slight uptick in the state. What accounts for Newt’s glimmer of life? My guess is that, while Republican voters don’t want him to be their nominee, they don’t want Romney to stroll to the nomination either.
The week-and-a-half or so Newt spent in freefall gave them a chance to imagine the primaries playing out as a Romney coronation, and they didn’t find the scenario especially heartening. So just like Newt needed to peak within a day or two of Iowa to have a shot of winning, Romney probably needed Newt to flame out within a few days of Iowa to have a shot of wrapping this race up very quickly. Otherwise there was going to be too much time for buyer's remorse to set in toward Romney, as may be happening now.
Meanwhile, John Hawkins outlines evidence against Romney's electability.
The Dish 