I think she was left with some pretty unattractive options, if she played by the normal “rules”.
1) Go for re-election, planning to serve the whole term (i.e., no 2012 run) — it would give her the “experience” feather (but we saw how unimportant that actually is) but 2016 might be too late (in multiple respects), and she’d be subject to the continued ankle-biting of bogus ethics complaints while having the travel issues you note working against her in building a national presence.
2) As above, but not intending on serving the whole term, which is what the Alaskan voters would expect. Between that and a hostile press, an Allenish “macaca” moment ruins her permanently, both at home and across the country.
3) Not running for re-election as governor, but going for the US Senate. Too many negatives here to even discuss — all of the ones below plus the swamp of the Senate is the last place she ought to be if she’s serious about 2012 or 2016.
4) Not running for any Alaskan office. She unshackles herself from the “ethics” garbage and the travel restrictions. But she leaves unanswered questions about her ability to get elected in the hostile environment she is going to face.
Now, personally, I would have chosen #2. Which explains why I’m not in politics, I guess, as the safe and conventional approach is probably what is least called for in the situation. Gov. Palin chose option #4, but with an added twist, which turns it from a somewhat risky conventional move to a massively risky unconventional move.
Assuming she’s planning on running in 2012 (which looks to be a safe assumption), it comes down to the question of whether freeing herself from the restrictions of the governorship outweigh the negatives created by “quitting”. If she’s following the plan of being a major factor in the 2010 mid-term elections, then the answer is yes. If she can deliver.
It’s a bold gamble, but the big prizes are won by the ones willing to take risks. Of course, no one ever talks about the ones who gamble and lose. :)
That's the kicker, right there. If her support elects some fresh faces, she will announce in the following January (creating a stronger "reformer angle" by re-establishing a more normal campaign-to-election cycle) .
If her efforts gain nil, she'll slide into some comfortable consulting and part-time punditry.