Paul does seem like the clear choice for Evangelicals, if it remains a four way race between him, Cain, Gingrich, and Romney. He's plenty pro-life, he's a Baptist, and the biggest scandal attached to him are newsletters with his name on them from twenty years ago that he's disowned.
Cain is accused of not only adultery, but sexual assault and being black. He is a Baptist at least, but his fancy talking can't save him from the series of gaffes that he's put out there from Libya to China to Ubekibekibekistanstan.
Gingrich is an adulterer, a Catholic, and has a lot of other baggage that won't endear him to anyone. If it comes up, his role as Speaker in derailing attempts to get a Constitutional ban on abortion could hurt him too.
Romney is a Mormon, has famously taken a pro-choice position, and is actively not courting Iowa. Bob Vander Plaats just suggested he might not be smart enough to be President because he's ignoring the religious right.
In this year, Romney certainly looks to be competitive with that set of bums, but by shunning them, they'd really have no choice but to go with Paul. Of course, the Evangelicals are numerous enough to win the Iowa caucus for any candidate. But if they push a candidate completely dead in the water beyond Iowa like Bachmann, Perry, or Santorum, they make themselves exceedingly irrelevant.