No, no, don't think so:
Evan Bayh in February threw Hoosiers a curve ball, announcing plans to vacate his U.S. Senate seat.
But if you believe some Internet chatter, we may see him make another big splash in 2012, running for his old job as governor.
[. . .]
“Talking Points Memo”, a Blog site known for political gossip that often comes true, is quoting a knowledgeable Washington source, in saying that Bayh has clear intentions of making a bid for governor.
The piece quotes Andy Downs of the Mike Downs Center for Indiana Politics with a good reason to be skeptical. If Bayh still has presidential ambitions, being governor again will not add to his resume, and make it harder for him to do a lot of traveling to mount a national campaign. And there is also the "been there, done that" factor. Some people like to go back and replow old ground