SNL is great, and I've always especially enjoyed the weekend update segments. Apparently Tina Fey was supposed to do this since she looks so much like Palin, but wouldn't because she didn't want to be in the same shot with her. So then they asked Palin to do it, but she refused last minute, and this was the product of that. Its still awesome.
Ignore the beginning by Fox News, they kind of suck.