A more likely scenario would be an establishment candidate like Jeb Bush or Christie picking a conservative running mate like Paul or Cruz as a token. Since the VP has virtually no actual authority, barring the death of a President, it would be all for show.
I don't think it'll fool voters anymore. Unless the nominee is obviously someone like Paul or Cruz, it'll give the dems an opening. At this time, the dems don't have anyone. Obama has sucked the life out of the Democratic Party. JMHO