A Mormon President?

When Mitt Romney was running for President back in 2008, I scoffed at the mere possibility of a Mormon president. However, as time as progressed and members of the LDS Church are becoming more politically powerful in the Conservative world, I find the likelihood of a Mormon getting elected to grow increasingly probable as time goes on. Doubtless shows such as Big Love have helped in this regard, making it clear that Mormons aren't evil, don't have horns, and only have one wife.

When Jon Huntsman Jr. was selected by Barack Obama to be the Ambassador to China I considered it a bold political stroke for both men; by removing a serious contender, Obama is much more likely to be elected. By placing himself in such a prominent and political position as the Chinese Ambassadorship, Huntsman placed himself in a prime position for running for president in 2016. As time went on, though, the likelihood of Obama being re-elected seems to have slowly declined, so that now most pundits seem to think he'll lose. With that looming, Huntsman waiting would mean waiting until 2020, something he obviously isn't willing to do, as he quit his position in China and is throwing his hat in the ring. Here's the question:

Do you think Huntsman can win the Republican Primaries? If so, could he win the general election? Why/why not? Consider his policies, his politics, his wealth, and (particularly) his competition.