@squinney,
I've said this before I think (I'm now having a lot of IRL and email politics conversations and I forget where I said what!) but I really think that a big part of Palin's early popularity was actually a pushback against the (perceived) unfair coverage. That people thought she was pretty and energetic and hey, she was a governor, she's not TOTALLY unqualified... And they were ready to like her.
When the torrent of coverage came (an unavoidable torrent given how unknown she'd been), there was a reaction to the
coverage, as separate from what people thought about Palin per se.
Then the torrent slowed and certain aspects (such as the repeated lying) of Palin have taken shape and solidified. Palin, under closer inspection, doesn't fare very well. And some of the people who were predisposed to like her are unimpressed with what they're seeing.
It was an ill-advised pick on McCain's part.