Yes. Here's a post of mine in another thread concerning her selection as McCain's VP.
Actually, Palin was great VP choice in theory. She was a popular governor, she took on the establishment as a reformer, she excited the base, and was fairly young. In fact, I thought she was a great pick strategically until the Charlie Gibson and Katie Couric interviews.
The flaw in picking her was that she was from Alaska, a state with far different issues than the lower 48. She knew a lot about oil and energy. Russian and Canada were a big deal to her and other Alaskans, just not to the general public.
If she was the VP choice 4 years from now, I doubt she would've made all the mistakes she did this time.
She didn't come off as smart because Alaskan issues are very different than in the lower 48. She knew a lot about oil, and Canada and Russia were much more important to her than most Americans.
Plus, she had little warning before being thrust on the national stage. No time to prepare, no time to become familiar with
McCain's positions (the ones that mattered).
So yes, I think she being underestimated. Do I think she could win a general election, probably not. Do I personally like her positions on social issues? Absolutely not.