The Occasional Observer

There's a strong case to be made for just such a ticket. Consider:

1) Obama's need to mollify women voters after kicking Hillary to the curb.
2) Sebelius has her own "post-partisan" story like Obama, as the the Dem governor or a GOP dominated state, where she also has high approval ratings. She's seen as an administrator who gets things done, and not an ideologue. It would bring some executive experience to the Dem ticket.
3) At age 60, she's right in the sweet spot for national politics.
4) Regionally speaking, Sebelius might make a lot of sense. Obama is running much ahead of where Kerry did in big sky country. Obama is just a few points behind McCain in traditionally GOP states such as NM, CO, NE and ND (see here), and also in traditional toss-up IA. I'm guessing O wants to play O, and not D. It would be a defensive move to pick a veep from a traditionally Dem-leaning state (Hillary, for example).