Well, the first debate was last night. General consensus seems to be that Romney won it.
I'm honestly a little curious what would happen if Romney did win the election (though the recent 47% controversy and brownface allegations make me doubt he will). I'm pretty sure he would have absolutely no idea what to do with the position of president. He's just so... cartoonish. He strikes me as a Glenn Beck or a Rush Limbaugh, he's someone who can talk and talk and say 'I would do this' and 'Obama's evil because he did that' but wouldn't really know what to do if given the power.
I'm pretty sure that if Romney won the election it would be an absolute disaster for the Republican Party, and they'd end up changing their platform a lot. The homophobia and misogyny and all of that shit is already easily the party's least popular attribute. It's so easily ripped into by opponents and so widely reviled by people everywhere that really all it would take is four years of a president who enacts homophobic and misogynistic policies to utterly destroy the credibility of anyone still holding onto that aspect of the party. Four years of a Romney presidency would force the Republican Party to essentially turn into (or be replaced by) the much more grounded Libertarian Party. Which, honestly, would probably be a really good thing, for America as well as politics in general.
But as I said, Romney is so cartoonish and two-dimensional that I just have a really hard time believing that he could ever become president. I'm hedging my bets on Obama.