RM77;
I tend to agree with Nighswimmer, but I always placed Hillary in the 4th or 5th spot for the reasons you have stated, especially the "Team of Rivals" philosophy you have raised and Obama has embraced.
The con is, as Nightswimmer points out, the governance issue. On the other hand, she would be a terrific help on policy and legislative relations.
In terms of electability, I agree with Nightswimmer that she might be a motivator for the right. On the other hand, a few things have changed in the past few weeks. McCain has settled on the inepexperienced flake attack and Hillary would be the best advocate against that. Especially since she invented it. Plus, the Georgia/Russia conflict argues for a person who has been in the White House before.
Another downsize is the "change" message. Obama has to decide if he can fit her into that message.
But McCain has tripped over himself praising Clinton to try to attract her support. This could cause Obama to want to neutralize that approach.
I have never believed that "compatibility" would be the key factor. Governance and electability are the whole enchilada.
And two of Obama's top three projected choices have taken hits in recent weeks. Bayh, who has been my guess, is being portrayed as a lightweight despite his deep experience. Kain, I believe, while being a tremendous public servant, simply emphasizes the inexperience charge.
That leaves Biden who, while having all the chops in the world, doesn't bring a state and would probably rather be Secretary of State. He also doesn't attract the southern white vote that has been so resistant to Obama.
Anyway, as unlikely as this seemed two weeks ago, I agree it has become increasingly possible that Hillary is back in the race. And it is a winning ticket. I'd take Donald Duck if I knew the ticket would win.
That leaves the final question. Does Obama think he's losing or is in great danger of losing? If he picks Hillary, the answer is yes.