I think this is an important endorsement symbolically. It tells the Hillary contingent of voters that it is ok to come over (if you haven't already).
Ben Smith of Politico says:
You know you're not making great inroads with Democratic women when the combination of dislike for Obama and excitement at a woman on the ticket doesn't even bring Geraldine Ferraro around: She just endorsed Obama.
Via PBS
On Barack Obama:
I don't know him that well. I've never met him. [In picking Joe Biden] it seemed to me that not only is he smart, but he also knows where he could use help. And he's ready to pull that help in and share that power of the White House.
On Healing:
People at that time were so angry. I was [hearing] "I cannot vote for Obama for what they did to Hillary and I cannot vote for McCain, so I'm either going to write in her name or maybe I will vote for McCain." They were ambivalent; they just didn't know what to do with this thing, but they were definitely not voting for Obama. I think a lot of that has moved since then and I think time has healed some of this. I think Hillary has healed some of it. And believe it or not, I think even Sarah Palin's nomination has [helped to heal the anger]—not that they see her as equivalent to Hillary Clinton.
On the Concerns of Women Swing Voters:
They're thinking about the economy. They're not worrying about who's a woman on the ticket and not a woman. They're interested in their families, just like the men are. They're the ones who are sitting there, saying, "What does it mean to me? Don't talk to me about Wall Street, I don't own stock. I have to worry about how I'm going to pay my bills. Is my husband going to have a job?"
Every endorsement helps!! (even if we don't care much for the person providing it)
GOTV. STFIL.
UPDATE: Meanwhile, Ms. FancyPants Lady Lynn Forrester de Rothschild still holds a grudge.
I like David Rees evisceration of her in September.