OK, so... Romney is a firm believer in the separation of church and state. But he lives his life according to Mormon tenets and his belief system has a deep impact on his life. But that would NEVER have *any* influence on his decisions if he were elected President. While he's president he'll magically get his moral and ethical direction for the office from some other place (not mentioned in the speech).
So it shouldn't matter that he's a Mormon because it's not nice to discriminate against someone based on his religious beliefs. Even though those beliefs influence the candidate's life. But then again, those beliefs would NEVER have any influence on his actions were he to become President.
I'm so glad he cleared THAT one up, aren't you??