Why would Hillary Clinton be holding out for the VP spot? It's a terrible place for her to run from. If Obama's a success, she can run on his cottails in 2016; if he's a failure, she can mount a primary challenge in 2012 without the taint of a failed administration. She doesn't need the name recognition, or the "experience" waving at crowds in global backwaters. In the Senate, she can push for bills to build a record.

Besides, Hillary is not a good fit for the ticket. Obama doesn't want Bill around, but leave that aside. She just doesn't bring many new voters to the table. About all you can say is that she'll placate some of her Democratic supporters. But Obama needs a lot more than her primary voters to win.