Sarah has basically destroyed Hayworth’s chances of grabbing the GOP nomination from McCain.
If Hayworth is harboring a personal grudge against McCain, then he will try to run against him any way and lose.
If he is smart, Hayworth will take advantage of the political climate and find a Democratic congressman to defeat.
More likely Sarah has destroyed her chances of being the leader of the conservative wing of the Republican party. I don't think she'll have much influence on the Arizona voters, or voters anywhere else for that matter.
Hayworth needs to make his decision soon, and if he runs he'll receive out-of-state financial support near the level of Scott Brown.