Due to her female status, youthful image, background in government reform, pro-life stance, fiscal and social conservatism, and an approval rating in Alaska generally in the range of 80 to 90 percent, Palin could become the ticket to solidify the GOP's conservative base and garner independent support, as well as win over some of the disenchanted Hillary Clinton supporters. Furthermore, Palin has a strong and growing community of online supporters lobbying for her.*The problem, of course, is that Palin appears to have had no foreign policy experience whatsoever. "Makes her no less qualified than George W.," supporters might retort. Which is to say she is hardly a credible candidate for your standby-president in the world of 2008.
* Wikipedia, Hat-tip Ted, Related sites Draft Sarah Palin , Palin for America