What I think Biden and Palin's strategy should be:

Biden:  Push Palin into a wall and bring her lack of knowledge of domestic and foriegn issues to light.  Your goal should be to make Palin look bad without coming off as being rude or condecending to her, which may stir up emotions for women.  You aren't running for president, and the vice president doesnt have a large influence on deciding people's votes.  Keep that in mind and bring it down a gear.

Palin:  Palin hasn't looked good in her interviews.  Something that caught my eye was when a reporter asked her about the debate, she said McCain did great, but when they asked her about McCain and Obama's stance on Pakistan, she replied, "Pakistan?"  She needs to do her homework and be as educated as possible on every issue that can be thrown at her.  Your goal should be to appeal to woman voters (the only reason you were picked in the first place), mention your kids often.

Predictions: Biden makes himself look like an ass and Palin makes herself look like a fool.

I predict this has the potential to be more entertaining than a Will Farrell movie.

Hard to say.

On the one hand I can't see Biden losing... unless he makes a crazy gaff like making a sexist remark or something.

On the other hand i remember the 2nd and 3rd Bush Kerry debates where Kerry tore apart Bush. Yet Bush was named the winner because he didn't come off as stupid as everyone thought he was.

I'd say an actual victory by Biden... yet everyone will call it for Palin for "holding her own" and "showing she could be Vice-President."

There is also the possibility Biden could lose do to an opposite of why Obama beat hillary in the debates.

i predict they will eat pancakes with maple syrup then drink a lot of alcohol and then have a jello wrestling competition in which Palin will dominate Biden.

The expectations for Palin are very low right now. However even if she surpasses those expectations she still could be very very embarrassing. If she can hold up at all in the debate and not make an ass out of herself then it will be considered a victory to her.

I don't expect her to pull it off.

With the format for the debates that has been choosen it should be very easy to coach an individual to a level where they can perform fairly well, so I doubt we will see anything too dramatic ... After all, there are really only (about) 5 to 10 topics each with about 5 to 10 potential questions that can be asked which would be relevant to this election; the arguments and rebuttals are (mostly) obvious and there very little unexpected that you have to worry about.

Now, I think Palin has a distinct advantage in many ways because she is an unknown so her ad-lib remarks are going to be difficult to prepare for, and you don't really know what buttons to push to get under her skin.

There are still people who believe she could be a vice-president, meaning she could be president?

If the president's job is to badly deliver talking points and platitudes to most questions, then yes, Sarah Palin is ready for the job.

( Whether a big part of the electorate can tell that or not is the more important question though... That's the interesting thing about this debate I believe )

My Bet:

A bikini clad Palin mud wrestles Biden in a banana hammock, causing America to vote unanimously for a Gates/Seinfeld ticket.

Gaffes and seemingly judgmental attitude towards Palin will give Biden a bad look and Palin will land a knock out blow near the end solidifying her maverick attitude.

She'll have to learn to speak English first, instead of that strange dialect of Gibberish she uses in the few interviews and public appearances the campaign trusts her to give.