The buzz is everywhere that Hillary is on the short list for Sec of state.
She flew to Chicago yesterday to talk about something.
This only makes sense from Hillary's perspective if she doesn't like being a Senator, and maybe she doesn't. She's in a position to be a very powerful senator for as long as she wishes -- New York loves her. And she doesn't have to run for reelection until 2012.
On the other hand, as Josh points out, Secretary's of State seem to have a relatively short shelf life, with very few making it more than one presidential term.
Hillary taking this job tells me she's done with public life and this is her step to retirement.
Her baggage -- including a former POTUS with many shady International dealings -- and what's in it for Obama are topics for another post.