The more I see Sarah Palin enjoying being the center of attention on her current book tour, the more I suspect that she'll pass on a presidential run in 2012 in favor of a TV or talk radio deal.
For one, Palin would stand to make far more bank as a media personality without the massive stress--both mental and physical--that a presidential campaign involves. Plus, I agree with those who feel that when it comes to politics that Palin's tastes are "all dessert, no vegetables." As such, transferring her celebrity to media punditry would seem an easy shift for Palin, especially as she already has a captive audience, and like her media bretheren on the right (e.g. Beck, Limbaugh, Hannity, et al.) cannot be bothered to address facts when discussing current events.
All that would matter is how Sarah sees the world, and her fans would eat up every perception.