Choosing someone tied to the Ted Stevens Alaska Republican party and all of its massive corruption, with a corruption scandal of their own... and who's only been in office as governor for 1 1/2 years, with no significant prior experience (small-town mayor is it)? Wow.
I think that it's very clear that McCain wanted to pick Joe Lieberman, but wasn't allowed to because he's pro-choice. So they went back and tried to find someone who was a social conservative and would satisfy the religious right (good pick here then, she's a creationist, anti-abortion religious right type), yet whom they could credibly say "McCain is a maverick" with... so they chose a woman. Not one of the more prominent Republican women either, for some reason... I mean, aren't there more experienced choices than Sarah Palin in the Republican party (there are)? Maybe they just didn't want the job... whatever the reason, that was the clear reasoning.
The question is, what will it mean? Well, it means that Biden is going to almost certainly have a crushing victory in the VP debate, I'd say... someone with such a complete lack of experience just isn't going to be able to compete. And it may hurt among some in the Republican base who are anti-female and don't want to vote for a ticket with a woman on it... the question there is whether that hurt will be more or less than the probable benefit among some undecideds who go with McCain because he chose a woman (or because it reinforces their delusions that he's actually still a maverick).
Oh yeah, and her husband works for BP, and is an advocate for drilling in the Arctic National Wildlife Refuge. And her Lieutenant Governor, Parnell, just ran for Congress (House of Representatives), running against many-term indited Republican Don Young... and Parnell seems to have lost a very close race in the primary a few days ago.
Democrats are already saying that this is the least qualified VP pick since Dan Quayle and that she may even exceed Quayle's level of inexperience... "Do you really want someone that inexperienced (and on the radical fringe culturally) a heartbeat away from the presidency with a 72-year old man in that seat?"
I do hope that the Democratic party, at least, will have no hints of attacking her for her gender... there will probably be more than enough of that from the radical right, sadly. She should be attacked for her inexperience and policy positions, not gender.