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I believe Sarah Palin is, at least right now, the conservative most capable of securing the nomination. Jindal is a strong runner up, and I think he would be the best choice for VP, but I think Republicans very badly want the chance to vote for Palin again, this time as president. Don't get me wrong, Jindal is a fantastic conservative and may be a great candidate for president, but he may not even take a chance on running, depending on what Obama's approval rating is come that time. Remember, he's only 37 now, he can wait until the end of Obama's second term if it came to that and still be a young president if he won in in 2016.
I hope there are better choices by 2012. The economy will more than likely be worse then, so the GOP has a good chance of winning back the White House. But if the GOP nominates another candidate who says one thing and does another, they could very well lose that election also.
The 3 candidates that I favor are Ron Paul, Mark Sanford or Bob Barr.