I think Warner would be better than Bayh, but I think there's as much of a chance of the Democrats nominating them as there is of the Republicans nominating Pataki.
No, he wouldn't. He has just one term as governor as experience. He wouldn't win a general election because the attack would be 'this man has no foreign policy experience in a post 9-11 world'. And it would be a fair attack.
Bayh is better suited to be president in 2008. Warner likely would be his VP, although that's a ticket that runs the risk of scareing off the Naderites yet again.