It's an interesting question. She's almost universally respected, intelligent, hits two key demographics, and is viewed as a moderate. As an independent and centrist, I like her in her own right. Her experience in education doesn't hurt, either.
But the connection to the Bush regime will be a deal breaker for many.
All in all, I think its political effect (pulls women and blacks! pushes folks with strong antipathy to Bush!) is close enough to neutral that the pick can be judged on its own merits; then again, the point of a VP in a race like this is to get some bounce, not just a neutral effect.
TL;DR: Interesting. Who knows how that would play out.