Sarah Palin’s announcement isn’t much of a surprise. She wasn’t doing much of the legwork required to put together a national campaign at a time when at least a half dozen other Republicans were. Only her recent criticism of “crony capitalism,” which appeared to be aimed at then-frontrunner Rick Perry, made me question whether she might actually get in. Palin looked more like she wanted to influence the process, and bowing out late maximized that influence.

By not running, Palin will remain in high demand as a surrogate speaker on the stump. Her endorsement will be coveted. What she won’t face is the high expectations that would have come with a Palin presidential campaign. At this point, the Republican field has probably taken shape.