Not to overstate the significance of the House pulling the Death Panel provision, but I belive this capitulation elevates Palin as a leading Republican voice and puts her in the position of frontrunner (I know its early). She leapfrogs Romney (conspicuously silent) who is going to have real issues on the issue of healthcare.
The House has *not* removed that provision - the Senate allegedly did. Different (though probably very similar) bill.