You're right. Thompson's rhetoric and record really aren't far apart.
Thompson believes in small government, but he also is pro-life. In terms of banning abortion those two views are in conflict. He started out leaning towards keeping the government out of it, not because he wasn't pro-life, but because he felt the government wasn't the right solution.
However, he saw that the problem wasn't getting fixed, and after seeing his own unborn child, he realized that this was a situation in which it was necessary for the government to protect it's people, in this case it's unborn people.
His core beliefs didn't change, but how he balanced them against each other did as he learned more.
With campaign finance reform the competing issues are small government (less intervention and greater protection of free speech) versus a desire to constrain corruption in politics.
Out of a desire to limit the corrupting effects of campaign donations, he supported a horrible bill. Now that he has seen the failing of the bill in action, he says that it did not work as he had envisioned it and would change it.
Once again, not a change in his base beliefs, but a different approach to balance them based on new experiences.
If you look at what anyone says or does under a microscope you will see changes in how they approach things. You will also find that people make some well intentioned mistakes, but hopefully learn from them. In Fred's case you can see why he might have made those mistakes, and how he has learned from them.
While the effects can be very significant in terms of effects on free speech and lives lost to abortion, the changes in how he approaches those issues have really been rather small and his old stance on those issues were based on solid principles, but still wrong when considering the whole issue.
Using the same standard that others on this site are using on Romney, how is this not also a flip-flop?? Just for the record, if Thompson is the nominee, I will support him, however, I don't think a Thompson candidacy will be a winner, mainly due to age, energy, and experience.