Anil Dash is receiving significant mileage in the blogiverse for this:
What Sarah Palin Is Saying
“if Palin says “Barack Obama consorts with terrorists”, she is making the assertion that he supports acts of violence against American citizens & the media will refute this … If … Palin says he “pals around with terrorists”, she’s used code-switching to mask the seriousness of the charge, obfuscating her meaning enough to get away with making an assertion that inevitably calls for the imprisonment or even assassination of a political opponent. … these words are not imprecise to their intended audience. … Palin is a smart, talented public speaker who makes deliberate choices about her use of language … college-educated & has been a professional broadcaster … She is … explicitly communicating to an audience that is white, overwhelmingly not college educated & lives in rural or suburban areas. … [her] conduct has gone far past the bounds of decency & far past even the most dangerous efforts of any previous candidate … This is … inexcusable, unforgivable & unacceptable”