Well done John. What a swerve. Lets get to it:
The good: She will obviously pick off pissed of Clinton supporters - especially non-college baby boomer women - read people who are stupid enough to vote for her in the name of "feminism" even though shes anti-choice. Yet another reason why she should have dropped out earlier. She neutralizes Obama's gains in Alaska (although really, its a small enough state, picking Pawlenty who would have given McCain MN would have been much better strategically). Choosing someone so new to the national scene does reinforce the McCain brand as a Maverick one. She will resonate with the evangelical community, not as much as Pawlenty, but more than Lieberman or Ridge.
The bad: For one, Biden will wipe the floor with her. Also, picking the Governor of the 47th largest state in the union, who is only 1.5 years into her tern and who has ZERO foreign policy cred kinda undermines your credibility when you attack Obama. Shes also an Alaska republican, a brand thats loosing steam in the state. It won't be too hard to tie her to Ted Stevens and the like.
The ugly: http://www.adn.com/monegan/story/478090.html