I largely subscribe to Josh Marshall's view on the Palin-Biden debate. Palin exceeded expectations, by which I mean she managed not to set her podium on fire or fart throughout the entire event. She came off reasonably articulate and capable. She didn't embarrass her campaign. I found the winking a bit annoying, but maybe that's just me.
That said, my impression was that Biden simply came off better. He was sharply critical of McCain and demonstrated a solid knowledge of both economic issues and foreign affairs. He defended Obama well. He made no serious gaffes (other than referring to Bosnians as Bosniacs). His statements were far more substantive than Palin's and yet still, for the most part, managed to have an emotional punch.
Anyway, I'm giving it to Biden. But Palin wasn't bad.
UPDATE: Biden was right, I was wrong. As Struwelpeter points out "Bosniak" is the accepted term for a Bosnian Muslim.