It has been conventional wisdom that a VP won't ever win or lose an Pres. election but Palin has the potential to be a huge asset. (PS- these are my observations as opposed to another liberal's cut & paste)

1)WOMEN- The obvious first impression is how affable she is.  The liberal media have a history of slamming GOP women.  Women will circle the wagons around her if they pull the same crap.  The Hillary praise was expected but I was surprised by how gleeful Geraldine Ferraro was by the news.  Ferraro has always been a tough Democrat partisan but she was extremely enthusiastic about this.

Women will EASILY identify with her because she's not an intellectual, childless egghead (Rice) or a Machiavellian shrew (Clinton).  A perfect bio that didn't need to be manufactured.

2)EXPERIENCE- McCain was correct to drop this "experience" criticism of Obama by choosing Palin. This was Hillary's attack as well and it would bring the same results as Hillary's campaign (a narrow defeat).  Any criticism made of her experience by the Dems will bring Obama's weakness back to the forefront.  And she has actual legislative accomplishments that she will gladly compare to Obama's.  Her perceived weaknesses will show how Obama's has even less experience and far fewer accomplishments.

3)EXPECTATIONS-  The media is already talking about how Biden will wipe the floor with her in a debate.  This woman is sharp and she will far exceed what is expected of her. Biden will come across as a condescending prick (Gore-2000).  He won't be able to stop it.  He only has one gear.

4) Demographics- Tough, independent, conservative, Pro-Life, Pro Gun, mother 0f 5 with a son in Iraq and a handsome Union husband.  I can not think of one potential McCain voter who would disqualify him/herself from voting for McCain due to this choice.

5) Energy-  She will be a champion for domestic drilling.  She will make the ANWAR "caribou" argument as worthless as it truly is.

6) Campaigning-  I loved the way she flat-out asked Hillary voters to vote for her and break the "glass ceiling".  No pussyfooting or hinting around.  GIVE ME YOUR VOTE.