I talked with J.C. Watts a couple of weeks ago and got the sense that this was going to be his decision.
Now the big question (at least for Republicans in Oklahoma) is who's going to run against Brad Henry?
Democrats could learn quite a bit from looking at the guy who won a narrow election victory in a Red State (not a single county went for John Kerry in 2004). Last time I checked Henry's approval numbers were in the 70's.
For conservatives like me, I can only be happy that Howard Dean's in charge and seems to have no desire to learn from the likes of Henry.