Some of my liberal conspirators have expressed concerns that because Sarah Palin can deliver some biting one-liners, we should now be concerned about Obama's chances to win in November. I shared my opinion that however good she is with speeches, and whatever pick her means demographically for the McCain campaign, it just doesn't change the over-arching dynamics of the race. Nate and Sean at FiveThirtyEight agree, and are a little more thorough and eloquent in explaining why. As much as Palin has fired up the right-wing base, it still doesn't change the fact that this is a very bad time to be a Republican.
UPDATE: Sean, who predicted that Palin's speech would fire up the Democratic base just as much as the Republican base, called it. Obama's campaign has raised $8 million in the less than 24 hours since Palin took the stage (via War & Piece). The only gentlemanly response is to say thank you, of course.