I don't know whether it's a "bad" pick, I'm willing to give her the benefit of the doubt. What I've been trying to say is, was this the "best" pick the president could make? Totally different questions there. And IMHO, the answer to the second question is "no."
The only problem with that outlook is, with the complete blank judicial slate and the "checkered" political one, by the time we find out what Miers is made of, she'll have a lifetime seat. To me, this stinks of Souter.