I think there is a good chance she could pick Romney as a VP candidate, for the same reason Reagan choose Bush.
In 1980, the GOP elite/insiders were so upset about Reagan getting the nomination that the were close to pulling another 1964 Goldwater type walkout and leaving Reagan hanging. Reagan put Bush on the ticket to keep them in tow.
With Romney as the VP candidate, there would be no question that Palin would get 110% support from the GOP establishment. Otherwise, we would see the GOP old-guard do to Palin what they did to Goldwater in ‘64 and several tea party backed candidates in 2008—attempt to undercut their own nominee.
Palin is by FAR, the best conservative with the most Reaganesque appeal and charisma.
There is nobody out there better than her. She has been through massive attacks from both ideologies and the media.
Yet, she was the only politician of note to take on Obama at the height of his popularity. She is 2 1/2 steps ahead of the political pundits and pros and has put herself into position to be the frontrunner for the GOP nomination.
She’s stupid like Reagan er a fox.
If Palin decides to run, she'll do so with the intention of winning. Choosing someone like Romney as her running mate would assure defeat. While GHW Bush was a true moderate, Romney is a liberal pretending to be a conservative and obviously fooling many folks in the process.