I think this is a brilliant pick on several levels. First, Sarah Palin is a strong conservative. She will reassure and excite those in the Republican base who have been less than enthusiastic in their support of McCain. Second, she’s an outstanding candidate in her own right, with real accomplishments that make those of Barack Obama look puny. Third, she’s a fresh face; she makes it impossible for the Democrats to paint the Republican ticket as old, tired, and more of the same. Fourth, she’s a woman—one with a more impressive resume than Hillary, not to mention Obama—who should have a strong appeal to Hillary primary voters.
Note, by the way, that this photograph is aligned right.