It's possible.
From what I've heard he has a strong appeal to Huckabee voters, as well as fiscal conservatives.
He was also interested in the job in 2012, before deciding he'd rather take a safe shot at Governor.
He has a few weaknesses though. He'd have to choose between a second term and a presidential primary where he'll start out as a second-tier candidate. I'm not sure he's all that talented politically, especially when you consider that he barely won the gubernatorial election in a state where Romney won by ten.
I guess that's true, but what's ignored is that John Gregg was actually a pretty good candidate from the Democrats. He was the Speaker of the Indiana House, and the polls were fairly close throughout. As well, I think Mourdock drew him down and Gregg was kind of a Donelly moderate. Plus polls were all close, if that matters much. Also Boneham was clearly cutting down Pence's margin.