Funny thing about Reagan being so well liked today, I think, is that many on the right don't really know his Presidency as well as they should. For one, he raised taxes many times and spent far more money than the country took in adding massively to the deficit and debt, but, to his credit, compromised often and socialized with Democrats (not like what is happening today). He was also strongly in favor of reducing nuclear stockpiles. What sticks in my mind the most though is that he sent the Marines into Lebanon on a questionable mission and when the Marine barracks were blown up and about 240 Marines were killed, within a very short time, maybe a few days, he evacuated the troops. If that's not cutting and running, I don't know what is and can you imagine what would be said by the right if that happened today?
I think that if Reagan ran on his record today for the nomination that Romney won, he would have problems because he would be too moderate but most of those who love him now don't know or understand history.