Sorry, but I think that's ridiculous. If Cheney were to resign now, the opposition would put a notch on their belts in the game of gotcha.
I'm not advocating an immediate resignation by any means.
In the course of a few months after this blows over, I'd reassign Cheney (for health reasons, wink-wink) -- as I've been suggesting for weeks now.
Any new GOP VP would gather instant clout and momentum for the 2008 election.
Now THIS is called "strategery" :-)