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On the other hand, Powell's departure from the Bush administration was not a voluntary one. He was pushed out, in favor of keeping Rumsfield around, who was later very unceremoniously sacrificed to the incoming Democratically controlled Congress. He, depending on the narrative you want to believe was among the few counseling the President not to pursue war in Iraq, and felt he was misled in going to the UN to make the case for a unanimous resolution for the invasion of Iraq. The right wing of the republican party has never much cared for him, though they will admit begrudgingly that he was a good soilder and did what he was asked.
He has met with Obama and has given him advice. Of all the choices for Veep, this is the one I could bet on without hesitation. Alas, by every account, Colin promised Alma he would not run for President when many were urging him to do so and I imagine that she would not encourage him to seek or accept the vice presidency either. Were I Obama, I would make a strong and vigorous appeal to Colin that his country needs him as never before. Certainly Obama could use his counsel and he would have the Cheney like advantage of having no desire to ascend to the Presidency, which I think is an effectiveness force multiplier for VPs.
Is an Obama/Powell ticket in the universe of possibility? Would Alma sign up for one last ride? If you had to put money on it, will Colin back Obama, McCain or keep his peace?