I guess the other thing Huntsman could attempt would be an Independent run a la John Anderson if Obama, like Carter, had approvals in the 30s but the Republicans were even lower. The Republican Party in 1980 was way less reviled. On the other hand, what does that mean? Huntsman could double John Anderson's 10% and rule out any chance to run as a Republican in 2016?
I don't think he will do this. But let's say AmericansElect gets on the ballot in every state and nominates him and he excepts. And Obama's approvals are in the 30's as are the Republican Party's (and Perry, who is the nominee). How well can Huntsman do? How many voters does he pull from each party?