"I have kind of turned on the switch a bit in terms of going to more events and raising more money for that possibility,'' said Costantino, a Providence Democrat who entered the legislature the same year as Walaska.

Costantino has been in the eye of the political storm as chairman, since 2004, of the House budget-writing committee, a time-consuming job that, he says, has exposed him to "every aspect of how government operates and is financed'' but also required him to take a leave from his role as manager of Venda Ravioli and the family restaurant across the square.

In earlier years, he says, he learned first-hand the "the plight of small businesses'' as executive director of the Drug and Alcohol Treatment Association, and owner/administrator of the former Providence Medical Health Care Center for five years.

Walaska is president and CEO of Tri-State Automotive Warehouse and a former banker who once worked for Governor Carcieri at Old Stone Bank. He has an MBA and an economics degree from Providence College.

"I understand finance," he said. "And I've run a successful private business for 25 years in Rhode Island, which is not always an easy task." He also chairs the board of the Greenwood Credit Union.

Walaska, who made an unsuccessful bid to be Senate president in 2008, said 16 years as a senator would help him get things accomplished at the State House.

He does not have to file any paperwork or create a new campaign committee to raise money to run for a statewide office, unless he chooses to participate in the state's matching fund program. In that case, the election board's campaign finance director, Richard Thornton, said he would have to file a form, signaling his intention to participate, during the official candidate-declaration period next June.

But some candidates amend their statements of organization much earlier to signal to potential donors that they are seeking a different office than the one they have. Walaska, who fits into this category, said he is likely to file his new paperwork within days.

Walaska said he hung back waiting to see what Caprio would do, but with Caprio announcing his intent to run for governor in 2010 and spend $100,000 monthly on campaign ads, it is "time to move forward.''

Needless to say, campaign aides to Caprio's likely primary opponent - Atty. Gen. Patrick C. Lynch - have been watching the ad spending closely, and say it hasn't reached that pace.

Based on information culled from the TV stations by Lynch's media advisors at Adelstein/Liston, his campaign manager Mike Mikus said Caprio's network buy the first two weeks of his promised ad blitz approximated $22,000, and a possible total of $40,000 if cable stations are included.

Caprio spokeswoman Margie O'Brien disputed the numbers, but would not say what they were.