Giuliani's Florida Gamble

"With the dice-and-slice situation, where it looks like you have multiple candidates winning different states, it looks like it might turn out to be a smart strategy," he said.

Other observers are not so sure.

One GOP consultant who is familiar with Giuliani's strategic planning said the decision to wait until Florida looks like "a brilliant one." But he said the campaign has not made the most of the time it has been out of the news.

He noted that the team received very little media coverage of its tax-cutting plan this week. And he said aides have not used the down time to develop a clear, consistent message that communicates what Giuliani's campaign is all about.

"If he can win Florida, it's a new day," said the consultant, who spoke on the condition of anonymity to be frank about the campaign.

"The problem is, this campaign for some time has been running on luck rather than skill. At some point, the luck runs out."

Staff writers Matthew Mosk and Perry Bacon Jr. contributed to this report.