What has Condi done to demonstrate that she is any kind of conservative?
People assume that Condi is conservative because of her demonstrated loyalty to the president. Contrast Condi's political stock with that of her predecessor, Colin Powell. Once upon a time, CP was thought to be presidential material. That stopped when it became obvious that he was captured by the State Department bureaucracy. As soon as Powell looked disloyal, his political fortunes as a Republican were through.
But you're right, the infatuation with Condi is not based on logic.