While I am not a Huckabee supporter, I do think it is disingenuous to argue that he is "too funny". Is that just because the Democrats save for Joe Biden seem to lack any sense of humor at all?
As for your knock on President Bush -- as to making jokes at others expense -- I disagree -- his sense of humor seems to be the same as JFK's - both pranksters, jokesters -- and they both have/had great comedic timing. If you (and most of the MSM) didn't dislike Bush so much, you and they would be applauding the way he jokes with the Press instead of seething inside whenever he opens his mouth.
Comedy is a powerful political tool and weapon in the soundbite age we are living in-- making people laugh sets people at ease very quickly -- I would not "misunderestimate" it.
From a humor perspective, the democrats have come up short for a long time-- only Clinton was able to keep it light -- and he won. Mondale had the personality of an accountant, Dukakis was so stiff you could throw a pie in his face and people wouldn't laugh, Kerry was a mortician, Hillary could suck the funny out of a clown, and Obama is so boring by the time he gets to the punch line nobody cares.
On the other hand in the GOP, only Romney is a stiff. Huckabee, McCain, Giuliani, and Thompson all have "funny bones" and know how to use them.