It was late 2002, and governor-elect Mitt Romney of Massachusetts had a request. He asked a top aide to go over his campaign stump speeches and make a list of all the promises he had made to voters. The aide found that Romney had made 93 separate promises while campaigning, and another 7 in the days after his election. That made for 100 different vows. Romney looked over the list and asked that it be distributed to the members of his incoming cabinet, as well as all the various department heads in Massachusetts's state government. It would serve as a blueprint for the next four years. According to Romney, he's made sure he kept every promise.

That's the type of leadership Romney, 58, tried to personify during his four years as Massachusetts's Republican governor: a true-to-his-word problem solver. But Romney's term ends next January, and a few weeks back he announced he won't seek a second. That's because another gubernatorial race would deplete his energy and resources for a much larger campaign: the 2008 presidential election. Over two years away from Election Day 2008, Romney refuses to declare his candidacy.

Yet it is almost certain he'll run. He's spent the past months slowly raising his national profile. Like most of the other potential candidates for the Republican nomination--Sen. John McCain, Sen. George Allen, Arkansas governor Mike Huckabee, Sen. Bill Frist, Colorado Rep. Tom Tancredo, and former Speaker of the House Newt Gingrich--he's made periodic trips to key primary states, most recently Iowa, which

Well, not exactly. There was a place setting for Romney, but he had nothing to eat. In fact, he stood for the whole hour, treating his talk with reporters as though it were a townhall meeting in New Hampshire. (Not to worry: the reporters enjoyed all three courses of their lunch.)

Romney is an impressive politician, ready to return to the national stage. He's been there once before, in 2002, as the CEO of the Salt Lake City Olympic Committee. As CEO, Romney had to tackle the problem of Olympic corruption, and ensure the safety of the first games held in the post-9/11 world. He won on both counts. Romney was the public face of the games, shepherding athletes, television crews, and tourists through a successful event. Within a year, he was governor of Massachusetts.

It will take more for him to become the 44th president of the United States. Consider two of Romney's liabilities--and two of his opportunities.

The first liability is religion. A devout Mormon, Romney's faith is the subject of an uncomfortable and confused public debate, and has emerged as perhaps the top issue of his campaign to date (see Terry Eastland's "In 2008, Will it be Mormon in America?" The Weekly Standard, June 6, 2005). The concern is that, while Mormons have enjoyed political success at the local and state level, they haven't had similar success at the national level. In 1968, Romney's father George was unable to secure the Republican presidential nomination. And in 2000, Utah senator Orrin Hatch's presidential bid was over almost before it had even begun.