I agree with everything you say, and even suggested myself many times that we need a conservative convention to pick our candidate before the primaries. However, it’s too late for most of that in this election cycle. This should have been organized immediately after the 2014 election when we saw what a travesty that primary was.
Still, I think that things are looking good this time around, because Cruz is such a dynamic personality, he is solidifying support on his own. Palin is great, but I think there is only a snowball’s chance that she would run, and I doubt she could get the nomination if she did.
Most of the other conservatives have significant drawbacks, either political or ideological. Carson, for example, has no political experience, so he is a non-starter in a Presidential race. West only held a House seat, and he couldn’t hang on to that. Santorum, well, frankly he looks like a “nerd” and Americans don’t elect those types to the Presidency. Walker is pretty solid, but I don’t think many conservatives would pick him over Cruz, simply because Cruz seems more bold and outspoken.
There's no way in heck she'll run, knowing that Ted Cruz is going to. She's too smart to split the conservative primary vote that way.
For what it's worth, I don't think she'd run (for multiple reasons), even if Ted wasn't. Gut instinct tells me that the two of them worked this out some time ago.