Christopher Orr pens a great piece  in The New Republic: "The case against the case against Palin." A sample:

Listening to the Democratic leadership respond to John McCain's selection of Sarah Palin as his vice presidential running mate, one hears echoes of the Alaska Republican leadership from just a few years ago. Barack Obama's spokesman, Bill Burton, put it this way: "Today, John McCain put the former mayor of a town of 9,000 with zero foreign policy experience a heartbeat away from the presidency." Former mayor? If you're going to skip over her job as governor and, before that, her job heading the commission that oversees production of the largest petroleum reserves in America, why not "former high school student"? Bah, what does it matter: She's just a small town mayor, just a hockey mom, just a beauty pageant queen. Palin has never shunned these belittling monikers, in part, I imagine, because the camouflage has served her so well. Soothed by the litany, her opponents tend to sleep too late, sneer too much, and forget who it is that hires them. [....]

What the Republicans missed about Sarah Palin then--and what the Democrats seem poised to miss now--is that she is a true political savant; a candidate with a knack for identifying the key gripes of the populace and packaging herself as the solution. That keen political nose has enabled her to routinely outperform her resume. Nearly two years into her administration, she still racks up approval ratings of 80 per cent or better.