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Mitt Romney's been impressively fair during the Presidential transition. He's consistently praised Obama when the President-elect has been praise-worthy, and pimped conservative tax cuts where appropriate. He's neither abandoned his philosophical principles nor succumbed to far right hyperventilation about the dread reign of economic terror Obama means to impose (see Katon Dawson's most recent plug promising to be Obama's worst nightmare).
Romney might not be playing the role of the angry opposition, but that's because he's taking a much longer-term perspective to the drama: there will come a time in the next four years when conservatives will have to expend a good deal of political capital. When that time comes, they'll have much more to spend if they offer reasonable responses to Obama's agenda now. It's folly to expect a Democratic President and Congress to behave like theoretical conservatives. Hell, even the theoretical conservatives of the past 8 years haven't done that.
If Mitt Romney runs again in 2012, he's taking not only a higher road now, but also a better one. It's one suited for the long haul. Gone is the Mitt Changes with the Weather that characterized his prep for the '08 run. His message has been consistent the past few months, his tone even, and his knowledge expansive.
He might not be building the buzz right now; but he's building the credibility to defend the buzz later.
[Hat tip: Freedom's Lighthouse]