Wow... That would be a winner. Anti-Hillary Democrats, Independents, anti-McCain Republicans... There's a "working majority". And it cleverly gets around the "sore loser" laws that would give Paul Hell by making Obama a running mate...
This will be especially effective if Hillary wins due to superdelegates and the DNC wimping out and seating Michigan and Florida delegates- twwo things that will cause a lot of conflict in the Crat Party!

EDIT: Oops... Read it wrong.
Wouldn't work. Obama could not run successfully as an Indie due to "sore loser" lawws in some states... or maybe he could. Maybe that's a bigger problem for Republicans.
I know Texas is such a state (a definite need for any Republican, written off by Democrats)... but I don't know if there are any significant blue or swing states with such laws.

__________________
"Man lives in the sunlit world of that which he believes to be reality. But unseen by most is an underworld, a place that is just as real... but not as brightly lit... A DARK SIDE!"
-opening from Tales From the Darkside