As my friend Luke noted in the comments below, there will be a huge fight over the Supreme Court nomination no matter who Bush picks because, as Brian pointed out, this will be the equivalent of tsunami relief for both parties in terms of fund-raising for each side.
If Bush nominates someone in the mold of Sandra Day O’Connor who is seen by the Conventional Wisdom as a moderate Republican, he will set off a revolt from the far right who will want someone who will reverse every Supreme Court decision since 1937. If he goes along with the far right — someone along the lines of Scalia or Thomas — then everyone from the middle to the left will launch a campaign that will make the Bork and Thomas hearings look like vespers.
My advice to anyone who is remotely considered to be on the president’s short list: don’t take the call. You’ve got a better chance of survival swimming off Pensacola with an open wound.