I don't see Palin as a standard bearer in 2012, but her support might make or break a candidate when the conventions roll around. She may fit a No. 2 spot again.

It is too early to start anointing the one, the only, the true Republican standard bearer at this time.
Romney will be stronger than he was in the last election, and he has the billions required. He is spending a lot of time on the TV.
That young one from Massachusetts is rising fast and is on the speaking trail as well. There is time for another 'star' to arise.

Whoever it is will likely be the next president.