Obama's speech was competently written and delivered. No more, no less. It was also doctrinaire Democratic Party liberalism. There was nothing McGovern or Mondale could have disagreed with. It will be interesting to see if America has changed enough that an overtly social-democratic platform can win a national election.
Governor Palin seems like a good choice in theory. Whether she will be up to the rigours of national politics is not something I claim even Internet-rules expertise on. Who knows?