Is It So Hard To Imagine A Southerner Winning The GOP Presidential Nomination In 2012?

This was the state of the Intrade betting on the 2012 GOP primary as of around 4PM this afternoon when I got distracted and stopped working on this post for a while:

Am a crazy, or does this seem to be an underestimation of Haley Barbour? There are a lot of reasons to think Barbour won’t be the nominee, but at the end of the day the governor of a southern state in a southern-based party has to be seen as at least plausible. Add to that the fact that Barbour has unusually good DC and national media connections for a small state governor, and I’m thinking it’s more like 10 percent than 4.2 percent.