The biggest revelation though is electability. 33% of respondents said Gingrich was most electable versus 23% for Romney.

Gingrich's rise to the top is being fueled by strong support from seniors and the Tea Party. With voters over 65 he's at 37% leading Romney's 18% and Paul's 11% by 19 and 26 points respectively. With Tea Party voters Gingrich is at 35% with Bachmann actually coming in at second with 23%, Paul in third at 14%, and Romney all the way back at just 4%.

Paul's benefiting from the lack of action on the Democratic side this year. 20% of likely caucus goers are either Democrats or independents and with them he's leading the way
with 28% to 18% for Gingrich and 13% for Romney and Bachmann. He's also very strong with younger voters, getting 23% with those under 45 to 21% for Gingrich, 16% for Bachmann, and 15% for Romney.

When PPP polled Iowa for the first time this year in January 57% of voters had a favorable opinion of Romney to 26% with an unfavorable one. Now he's at only 49/45, representing a 27 point decline in his net favorability over the course of the year.