She is holding off. She's throwing just enough chum in the water to keep the fish interested. I trust her instincts...she knows exactly what she's doing.
I agree that she is floating a trial balloon. I also think that if she does run, that she will win the nomination, and that she will attack Obama and his record instead of praise him like McCain did, and how Romney will do if he wins that nomination.
At times I have felt that Palin just isn't experienced enough (I definitely felt that way about Obama, for the record), so if she doesn't win the nod, or even if she doesn't run, I hope she helps a Paul Ryan learn how to attack the President. Anybody but Mitt/McCain/RINO, and I'll be happy. So ... GO SARAH!!!