Huckabee doesn't have much of a chance in my view. He doesn't have the money to compete in big states like California, Florida, and New York, which have the delegates needed to win the nomination. His appeal within the party isn't wide enough to secure the nomination either. He has the support of the evangelicals, but they aren't a stand-alone power within the party. In coalition with others like economic conservatives, or foreign policy neo-conservatives, yes they are a power, but not by themselves.
I foresee the GOP rallying around either Romney or McCain. They are the only two with any plausible chance of winning the nomination. Giuliani, as I predicted on this website months ago, will fall to the wayside due to a lack of support. Huckabee will stick around longer, as he might be able to amass enough delegates to become a kingmaker in the nominating process. McCain makes a lot of people within the Party uneasy, primarily because his moderate stances on some key domestic policy issues, but many believe that he gives the party its best shot at winning in November, and I tend to agree. Romney is a good candidate, but he just doesn't connect well with the average voter. I think Romney would make a better president than McCain, as he is very strong grasp of policy issues, but McCain brings electability and familiarity to the table.