I think his analysis of her strengths and weaknesses is close to the mark. If he misses anything, it is not being explicit in discussing the social class issues in the divided reaction of Republicans to her.
Upper class Republicans like David Brooks and Peggy Noonan can't stand Palin, she appeals to what we once called "Reagan Democrats." Some of those who oppose her might find Obama more "class compatible" than they find Palin "ideology compatible" and either stay home or vote Dem.
I can imagine Sarah Palin becoming a U.S. version of Evita Peron, they share a number of characteristics.