The Gop didn't run Ron Reagan...In fact, the GOP opposed Reagan...
Were you around in July of 1980? Do you recall the GOP National Convention? Here’s a fact: Reagan won in a landslide.
Let's not forget that one of the leaders of that "Republican" group who opposed all things Reagan was George Romney. Mitt is a natural heir to the liberal wing of the Republican Party - he got his politics from his family.
Such a bone-headed stunt as a Draft Romney movement could doom the Republican Party. Re-nominating Romney might be enough to entice Palin, Cruz, or some other viable, legitimate conservative to agree to run as a third-party candidate. Could a conservative win in a three-way race with Hillary and Romney? Probably not but he or she could be competitive. It would be interesting to see how a sincere, energetic, personable conservative (like Palin or Cruz) would fare again two politically tone-deaf empty suits like Romney and Hillary. But what is certain in this scenario is that the Republican Party would become Humpty Dumpty and all the king's men and all the king's horses could not put it back together again.