It looks like the end of the road for Big Bill. There's no question Richardson is a talented retail politician with an impressive resume, and under a different set of circumstances he might have been much more of a force in the Democratic primary. But he never gained much traction this year - despite his consistently ridiculous pandering to Iowans - in a field dominated by two of the Democratic party's biggest stars.

If nothing else, Richardson's jovial demeanor added some much needed levity to the campaign. His television ads were among the sharpest and funniest around, and he made some of this year's most memorable gaffes - which he himself was able to laugh at after the fact.

Speculation abounds as to the timing of Richardson's exit. Clearly, he could have stuck it out for another 9 days for a contest in his backyard that will be heavily influenced by the Latino vote. So why get out now? Is it to help Hillary Clinton try and hold off Obama in Nevada?