Sarah Palin 2

The Democrats would love to run against her in 2012. Her motivation of the GOP base is more than compensated by her mobilization of the Democrat base and her ability to fundraise for the opposition.

Whatever her political skills, (and I suggest they aren't as bad as they've been painted) she would have a major hill to climb to overcome the present perceptions of herself with a majority of voters. Historically, very view politicians have managed to overcome a significant negative perception in the voters minds. Nixon did so, between '62 and '68, but he's pretty much the exception.