"In a general election, it is easy to see Rice holding most of the red states.."
I agree with you she shouldn't head the ticket. Do you really think its a good idea for "President" to be the first campaign someone does?
I'm open to the idea that she run as the VP candidate, but if that is not appealing to her, but a future run for the Presidency is, then she should go back to California and try to win something there. Maybe she could wait and run for governor in 2010 or challenge Boxer whenever her seat is up again.
For all we know, she may turn out to be a great campaigner, but she may also turn out to be a disaster. Better to test and find out in something other than the biggest election of all.