The response from the press on Romney's fundraising for the last quarter has been lukewarm (despite the fact that Romney raised more money than all his rivals combined). But I believe that the response to Romney's numbers is just the way Romney wants it.
Romney's objective during this portion of the campaign is to lay low, and not attract too much attention to himself. His fundraising numbers fulfill that goal. He had nothing to gain by blowing his competition out of the water by an insane degree. His rivals fundraising numbers were dismal. Romney knew he could save some of his fundraising for the following quarter.
I am surprised that so few in the press are counting the money raised by his Super-Pac, which totals three times the amount of most of his other rivals. I think Romney diverted some of his fundraising to his Super-Pac in order to make his numbers look lower.
There is a danger in coming out too strong, peaking too early, and distancing yourself from the pack too much at this stage in the race. Romney knows this and is taking proper steps to keep as low a profile as possible.