To be honest, I'd be surprised if Hillary opted to accept the number 2 slot on a ticket with Obama. I just can't accept that she's anything other than 100% driven towards being President someday. However, she'll never be President if Obama wins in November. She'll be too old to run in 2016 and I just can't believe that being Vice President with no hope of being President is all that attractive to her. 2012 is her last realistic shot.
But, what if she believes that Obama won't win in November? Then it makes perfect sense for her to be on the ticket. That way she's seen as a good Democrat, a good team player. And when they fail in November she'll be seen as having been right that she would have won where he lost. And by being on the ticket she'll deny any other possible aspirants the national limelight that might propel them towards a 2012 run. I honestly believe she'll be on the ticket only if she feels confident that Obama can't win.