The St. Pete Times reports:

The Marco Rubio campaign says Charlie Crist has halted all its TV advertising in the Orlando and Tampa Bay markets where the anti-Rubio spots were airing.

Crist's veto of the Jeb Bush-backed education bill seemed to be a strong sign he was running as an independent, but the decision to pull the ads could mean, as the Times reports, that "Crist has decided to marshal his resources for later or perhaps drop out altogether."  First Read reported on Friday that Crist is considering dropping out and living to fight another day:

First Read has learned that Crist is getting much of his political advice nowadays from GOP strategist Mitch Bainwol, and they are considering two options right now: 1) making an independent bid, which would turn the general election into a toss-up; and 2) dropping out of the race altogether and turning his sights to a 2012 Senate challenge against Bill Nelson (D). But right now, no one is seriously talking about Crist staying in a GOP primary he’s trailing by double digits. The filing deadline is at the end of this month.

Rich Lowry lays out five reasons Crist should not run as an independent. They amount to one big reason: Crist can't win as an independent. And an independent run would end his career as a Republican.

On the other hand, The New Republic and Daily Kos think it would be really great if Crist were to run as an independent. Presumably some of Crist's advisers who would like to help him spend his $7.5 million war chest now (on themselves) think the same.

Update: Via Ed Morrissey, The Hotline reports that "Top GOP officials in DC now believe it is a virtual certainty that FL Gov. Charlie Crist (R) will bolt the GOP and run instead as an independent."