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Palin endorsed Perry for Governor.

And has not endorsed Perry for President.

In fact, she has repeatedly stated that if the right person was in the race she would not be running.

Furthermore, she has stated, periodically, in the last several months that either the right person was not in the race or she could not whole-heartedly support anyone in the race, and that included Rick Perry since she has made one of those statements since he declared.

So either one of the following conclusions can be drawn from this set of facts:

1. Palin feels Perry is find for Governor of Texas but not President of the United States.
2. Governor Palin has had an oppurtunity to further investigate Rick Perry's actual record and has come to the conclusion that he is not the man for the job of US President.

Otherwise, in her mind, this question would already be settled and she would have come out in support of Rick Perry for President.