Thank God.
A lot of conservatives were grinding their teeth to powder on the rumors that McCain was thinking of picking him.
A LOT is going to depend on who McCain DOES pick. He could go a long way to healing the rift with the conservative base with the right pick. And keep in mind that if McCain wins, he may not run again, and his VP would likely be top on the list for the 2012 Republican candidate.
I don't have any favorites yet...there may be some decent possibilities at the state level that I'm not familiar with.
If he picks either a RINO or a nut like Huckabee, he's screwed.