So, Ted Stevens, by getting convicted of 7 felony counts, may have just launched the second wave of Sarah Palin's national political career.
If he gets reelected, which is still a possibility (though unlikely, since the polls showed him and his competitor in a dead heat before his conviction), he'll probably resign shortly after Congress meets. If not, he'll probably be expelled from the Senate.
That means that Governor Palin gets to appoint an interim replacement, and the Alaska state legislature has to set a date for a special election. Assuming she doesn't appoint herself (mavericky!), she'll appoint somebody really weak, who could be beaten in the special election by a popular, well-known figure...like Sarah Palin.
So, Palin gets four years in the Senate, setting her up nicely for a 2012 presidential run.