Mark Halperin...

...has a memo in Time today (my emphasis).

TO: Coastal Elites, the Media and Establishment Politicians of Both Parties

RE: Sarah Heath Palin

All of you are certain she can't win the presidency — and as of today you are right. But the nomination is another kettle of salmon, and she bears more in common with the past three presidential winners than with the passel of hopefuls clamoring for donations, press attention and straw votes. She is like Obama: the camera loves her and both sides of the political spectrum hang on her every word. She is like Bush: able to communicate with religious conservatives and Middle Americans. Most of all, she is like Bill Clinton: what doesn't kill Sarah Palin makes her stronger. So as the world gets ready for the midterm elections and for the start of the epic contest in which Republicans will pick their champion to go into battle against Barack Obama, be advised: Palin is very much alive and, despite what you think, extraordinarily strong.