Christianist prejudice will come home to roost
Right wing fundamentalists, however, have built a political wing on the belief that they should be voting for people who share their religious beliefs exactly. So I think the answer to Time magazine's question, is no, religious conservatives will not vote for a Mormon. I honestly don't think Mitt Romney will make it out of the Republican primary.
When Romney begins his run for office in earnest, the beliefs of the Mormon church will come under scrutiny and, when Southern Baptists and "nondemoninational" fundamentalists find out the Mormon version of the Trinity is more like a three-person council, there will be some recoil. The right wing God Machine also won't look too kindly on the Mormon belief that no one got Christianity right from the time of Christ's death until Joseph Smith was directed by the angel Moroni to transcribe the golden plates which became the Book of Mormon.
Romney's doing his best to appeal to conservative Christians--especially by showing that he can really, really hate gays--but I just don't think it's going to work. A community built on a single-minded adherence to a restrictive view of faith won't bend without also threatening to break altogether.