I wouldn't pay all that much attention to hints that people like Mark Halperin or Howard Fineman are dropping about the VP selection process.
Why not? Their sources are too good -- meaning too close to the process. There are differences between information brokers, which is what someone like Mark Halperin is, and information seekers, which is more like what someone like Marc Ambinder is. In a process as tightly-controlled as the Obama VP rollout, the brokers might have more information than the seekers -- but all of the information they'll have will be things that the Obama campaign wants them to know. The seekers are more likely to learn something that they aren't supposed to know.
With that out of the way, there is exactly one clue that I consider to be worth worrying about, and that is the timing of the announcement. It is now Friday morning at 1:12 AM Central Time. The Democratic convention kicks off in about 75 hours. The identity of the VP is not known. You can send up trial balloons, send out false information, bluff and posture and play-act as much as you like ... but you can't get that time back.
There is very little time left to roll-out and brand the candidate. As Stu Rothenberg notes, it is actually the norm rather than the exception to have the VP named relatively close to the convention. Still, there is cutting it close, and then there is leaving yourself no time at all. Geraldine Ferraro and Al Gore were named 4 days before the opening gavel at the convention, Lloyd Bentsen 6 days, Joe Lieberman 8 days, and John Edwards 20 days ... so this pick will set the modern record for the Democrats, although the Republicans have sometimes waited even longer.
And this year, the circumstances are especially poor for a late roll-out. The pre-convention coverage will have to compete with the Closing Ceremonies. The convention coverage will have to compete with The Clinton Show. There isn't really a post-convention period, since the Republicans will hold their convention the week after.
If you leave yourself with a candidate who hasn't been adequately branded, you give yourself two problems. One, the Obama-Who? Effect, i.e. underscoring the fact that Obama is inexperienced and unknown. And two, the fact that the candidate won't have the stature to draw large crowds on the campaign trail, or to maximize their exposure as a potential surrogate for you.
All of this points strongly to the known knowns: Joe Biden or Hillary Clinton. In the polling that Rasmussen conducted last month, these were the percentage of likely voters who knew enough about the respective candidates to have formed an opinion about them:
apparently fairly lukewarm