What are the requirements of a pundit?

Go beyond the cliche, say something smart...don't insult our intelligence. Can Palin even do this? Let alone run for president:

The Uncertain Future of Sarah Palin - TIME: "The job requirements of punditry — commenting on a variety of political and nonpolitical happenings — are not necessarily the best preparation for a run at the Republican nomination, even in this environment. (Just ask Pat Buchanan.) When asked by O'Reilly why she is still the target of so much criticism, Palin replied, 'It's not about me personally. They don't like the message. They don't like the commonsense conservative solutions I articulate.' Maybe. But eventually, even other Republicans may be emboldened to challenge her."