Probably not. Then again, just because Sowell is smart doesn't mean he's right. Nor, for that matter, does it mean you've properly understood his point.
For example, his paean to her from 27 Feb '09 calls her "galvanizing," and for a segment of the party she certainly is.
Sowell stops short, however, of mentioning her accomplishments. Instead, he only dissmisses her inexperience by pointing out that Obama is even more inexperienced. Not much of a recommendation, that....
Moreover, he doesn't actually say "Sarah Palin should be president" or "Sarah Palin should lead the GOP." His point is that the Republicans need somebody to shake them out of their complacency. That's true. But, notably, he does not say that Sarah Palin is the leader the GOP needs.