I thought of it first, I bleat.... One of Instapundit's readers notes Alaska's proximity to the former USSR and calls it "two years of foreign policy experience". I've been talking about this since my husband and I started tossing Gov. Palin's name around. Any governor of Alaska who's good at her job would keep a close eye on what's happening in Russia and surrounding countries -- and Palin is reportedly good at her job. A related point (not yet scooped...) -- a competent governor of a state to whom oil is so important would keep up with what's happening in oil-producing states -- which would entail a fair amount of awareness of developments re Islamic extremism.
So Palin may add some real foreign policy expertise (if not exactly "experience") to her executive experience, toughness, reformer credentials, etc.