Ron Paul came in a strong second in Nevada and beat Giuliani in South Carolina… though Paul beating Giuliani is nothing new, the only time he hasn’t was in New Hampshire. Nevada and South Carolina proves a certain point about the Ron Paul base. Despite the fact he gets lower scores in polls, his real world results are much better then the polls predict. For example, in South Carolina, Ron Paul was polling at 1%, well behind Giuliani’s 4% and even Keyes’ 2%. The polls are flawed not only as a result of what they ask, but perhaps more importantly whom they ask.
Thompson is expected to drop out, and likely will endorse McCain, which if that results in a McCain win in Florida (who already leads), will be an effective end to Giuliani’s run, especially if Giuliani falls past second there after all the time and money he has spent on Florida.
On the Democrat side, Clinton won Nevada (their South Carolina primary isn’t until later), but Obama gets more delegates from there, making his delegate lead stronger.