It's an intriguing idea. Palin has proven herself to be pretty astute at picking candidates, and is a phenomenal fundraiser. Here's Kevin Williamson over at NRO
Chairman Palin would help set the right tone for the Republican party without having to get herself entangled in the minutiae of policy-development, which has not been her forte. Sure, she'd be polarizing, but so is Barack Obama, and these are polarized times.
I like it, but I've got reservations — the same ones as James Poulos
Even if you like Palin -- especially if you like Palin -- it should be evident that the Power of Sarah is dampened, not amplified, by the obligations of office. Public office, party office, no matter: here is a woman whose ability to influence public opinion, command fundraising, and electrify Republican politics depends almost entirely on her ability to choose independently when, how, and indeed whether to speak and act. The speeches and deeds that are the province of party chairpersons are inimical to Palin's style and substance.