Political experience
Obama: Worked his way to the top by cultivating, pandering to and stroking the most powerful interest groups in the all-pervasive Chicago political machine, ensuring his views were aligned with the power brokers there.
Palin: Worked her way to the top by challenging, attacking and actively undermining the Republican party establishment in her native Alaska. She ran against incumbent Republicans as a candidate willing and able to clean the Augean Stables of her state's government.
Executive experience
Obama: Makes executive decisions every day that affect the lives of his campaign staff and a vast crowd of traveling journalists
Palin:Makes executive decisions every day that affect the lives of 500,000 people in her state, and that impact crucial issues of national economic interest such as the supply and cost of energy to the United States.
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UPDATE: How funny and sad that today Obama himself compared his experience to Sarah Palin's experience and got his facts wrong: Here s an excerpt:
“My understanding is that Gov. Palin’s town, Wassilla, has I think 50 employees. We've got 2500 in this campaign. I think their budget is maybe 12 million dollars a year – we have a budget of about three times that just for the month,” Obama responded.
Just for the record, Alaska's FY2008 operating budget is $11.2 billion, and the state employs approximately 15,000 people. Those certainly aren't huge numbers in federal terms, but they're a good bit bigger than the Obama campaign.