If Hillary gets the nomination, Richardson could be the VP choice, but if I were in her shoes, I would go for Bayh of Indiana as VP. Hillary already will get the vast majority of black and hispanic votes anyway, what she needs is to make inroads into white married voters. I think Bayh would help with that more than anyone else.
Bayh might be a good choice for Hill, but lately he speaks to the left, while Richardson seems to speak as a moderate (though I'm not sure he really is). I think it depends upon what game she wants to play - moderate w a left-leaning VP to appease the left wackos of the party or if she wants to try to appease the left and some of the "Independents" and pick a more moderate candidate. I suspect one had to take into account that he's fairly good looking and, I think a family man. I used to even be interested in what he had to say a few years ago and the past couple of years he's seemed to flip further to the left. It appears from your name that you're from Indy, so you know him far better than I, and, while I think he wants the #1 chair, I suspect he'd take #2 (he still appears to be fairly young, so he might think he could get his feet wet as VP then move into Pres in 8 years).