Sarah Palin Likely Running In 2012

Maybe. Chris Bowers chronicles four reasons why Sarah Palin could/will be the next Republican nominee for POTUS:
1. Huckabee is unlikely to run, and his evangelical / born again base (virtually all Huckabee voters in 2008 were evangelicals) is a lot closer to Sarah Palin than they are to Mitt Romney. So, Palin will likely start ahead in national polls among declared candidates.

2. Romney's strength in 2008 was in caucuses, which are dominated by dedicated activists. Of the 11 states that Romney won in 2008, three were "home" states (MA, where he was Governor; MI where his father was Governor; and UT for religion), and the other eight were all caucuses. However, Romney isn't going to win many caucuses if he is facing a candidate who can draw 10,000 people to a rally in early 2010, not to mention what is likely a tarnished reputation among Republican activists after the health care fight.

3. Palin's grassroots strength will provide her with all the funding she needs, and also goes a long way to pre-empting any possible insurgent candidacy against her. This will especially be the case if Ron Paul runs again, since Paul can't win the nomination but would soak up pretty much all of the remaining grassroots energy on the Republican side.

4. Say what you will about Palin's ability as a campaigner, but if gaffes were going to make her unpopular among Republicans, it would have happened already.
Truly frightening.

But, given her popularity (or unpopularity, as it were), I'm not too worried (yet) about Sarah Palin actually winning the highest office in the land -- even if she got her party's nod.

There are just way too many people -- Republicans, Democrats and Independents alike -- who are scared at the prospect of "President Palin".