I think that early on, both Bachman and Palin both in the debates would be a good thing, not a bad thing. We need as many conservative voices trumpeting as possible. Palin is the best qualified if you examine their records(for president, having executive level experience is more valuable than adminsitrative/legislative experience IMVHO of course), but having said that, records don't always mean a thing, in and of themselves.
But, after having seen her in person and on the tube making countless speeches, I haven't heard her take a single position for which I disagree. That puts her in my number one slot for me.