I don't know how you are measuring those two speeches, but in my opinion there was no comparison between who would be the most Presidential and who had a grasp on issues. Hillary gave an awesome speech - and considering the tone it had to take, still came off as being in total command of issues and the process.
No frickin' way did Palin make Hillary look like a joke. If Hillary had made that speech - or one like it without the Obama stuff - early on to Americans, she would be the candidate now, and would be highly favored to win. All in my opinion, of course. Palin did a good job, but let's not get crazy.