I saw the interview with Palin. It is actually a good question. The President defines what the VP does. It could or could not be a meaningful job. Historically, it has mostly been meaningless because the Presidents have not delegated much to the VP.
John Nance Garner spent his entire adult life working his way up to Speaker of the U.S. House of Representatives, and then gave it up to become Vice President to FDR. He later said it was the "worst damn fool mistake I ever made." Garner served in that office from March 4, 1933 to January 20, 1941. Garner once described the office of the vice presidency as being "not worth a bucket of warm piss."[1] [This quote was Bowdlerized for many decades to "not worth a bucket of warm spit" by the media.
I would say that Palin's inquiry/comments showed good judgment and commonsense. She would be giving up the job of governor for VP. If McCain didn't promise here a worthwhile job, she would be a fool to take it. I assume McCain assured her that he would delegate important responsibilities to her.
She asked the question because she wants a VP to be actually able to do something. Not just be a figurehead.
The entire quote about 2:58 in:
http://www.youtube.com/watch?v=Pak-rH0dCeA&NR=1
I would make a wild guess that it would include keeping her up to date on National Security intelligence and strategy so that she is ready to take over if necessary in a pinch or run on her own in four years (maybe 8).
The fact that these little pants crappers seem so smug like this is something to beat her over the head with shows how little they have to use against her and how little they understand the actual situation IMO.