If Ted Stevens is re-elected to the US Senate after his felony conviction, he could be expelled by a vote of 2/3 of the Senate. If that happens, Gov. Palin would have to call an election to fill the open seat.
If Sen. Felon (R-AK) is re-elected to the US Senate, he could be expelled (presumably down the tubes) by a vote of 2/3 of the Senate. If that happens, Gov. Moose-alini would have to call an election to fill the open seat.
As I understand it, she would be eligible to run for the open seat. If she won, she would then join John McCain and get a close-up view of what the Vice President actually does (not much). She might even learn how the Senate (and Congress) actually works.
That would make her the leading candidate for the 2012 Republican nomination. Palin vs. Romney would be a very ugly primary campaign, but the thought of either of them in the White House is truly scary.