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Updated: Barack Obama’s campaign is neither confirming nor denying reports that the candidate has a stop planned in Indianapolis on Saturday – the day he is widely anticipated to appear with his vice presidential running mate for the first time.

The Nashville Post reported earlier that Obama’s planned trip to Indianapolis included a "major event," adding that Obama operatives are being called in from around the country to attend.

CBS News chief political consultant Marc Ambinder confirmed the visit and CBS News’ Maria Gavrilovic reports that the campaign is officially not confirming or denying the plans despite other reports citing campaign officials saying it is not accurate.

CBS News previously reported that Obama plans a major rally with his newly announced running mate in Springfield, Illinois, on Saturday at the site where Obama launched his presidential campaign.

As a cautionary note, Obama’s schedule has been filled with tantalizing clues to his VP selection this week. He’s visited states like New Mexico (Gov. Bill Richardson) and will be in Virginia tomorrow (Gov. Tim Kaine), and Indiana remains a potential swing state regardless of who is selected.

Obama plans to announce his selection first in e-mail and text messages to supporters.

With just two weeks to go until the Democratic vice presidential candidate is scheduled to speak at the convention in Minneapolis, it's crunch time for the VP wannabes.

On this week's "Face The Nation," the stakes couldn't be higher for Evan Bayh and Tim Pawlenty, who hold down the top slots on the latest CBSNews.com Democratic and Republican VP hot sheets. When Bayh and Pawlenty square off, they'll spend most of their time talking about Barack Obama and John McCain, but the implications of their CBS News appearances are clear: this is a final tryout for the two top VP contenders.

If Bayh and/or Pawlenty shines on television this Sunday, it may very well be enough to give either man the VP nod. But if either vice-presidential prospect stumbles, Obama or McCain could decide to look elsewhere for someone who's up to the task of performing under pressure on the national stage.

The word from campaign insiders is that neither candidate is likely to select his running mate for at least another month. But remember, at this point in 2004 John Edwards was already stumping with John Kerry, having been added to the Democratic ticket on July 6 of that year.

The conventions are later than usual this cycle, so the presumptive nominees have some extra time to mull over their options. But that doesn't mean Sen. Obama or Sen. McCain won't pull a fast one on us all by announcing the VP choice earlier than expected. At the very least, we know that the vetting process has already begun on the Democratic side, after CBS News chief political consultant Marc Ambinder reported that the Obama campaign asked Virginia Senator Jim Webb to hand over personal information. Webb refused to do so and subsequently removed himself from consideration.

Webb drops all the way out of the Democratic side of the latest CBSNews.com VP Hot Sheet as Delaware Senator Joe Biden rockets to the top half of the pack. Republican Senator Chuck Hagel and Indiana's Evan Bayh also move up on the list. And Obama's "other" former rival John Edwards cracks the top ten after changing his tune on whether he'd accept an offer to join the ticket.

Sen. Evan Bayh, whom the Journal Gazette calls the "most popular and well-known Democrat in Indiana," goes to bat for Sen. Hillary Clinton in a new ad that will begin airing tomorrow in the Hoosier State. Indiana voters go to the polls on May 6th.

In the spot, "Steel," Bayh says this to the camera:

“America faces challenging times. We need a leader who'll fight for good jobs, change trade deals like NAFTA, cut taxes for middle class families. Someone who's ready to be commander in chief from day one.

That leader? Hillary Clinton. I've known Hillary for 20 years. She's got a spine of steel. She'll fight for our jobs, our troops, and the America we love. Strong. Seasoned. She'll always stand up for us."

Watch it:

Picking a running mate is serious business in spite of the often carnival-like atmospherics that can accompany it. Clandestine meeting with prospective candidates, endless speculation and jockeying among various boosters aside, it's generally the first major decision made by two individuals auditioning for the job of running the country.

"The first consideration is to find a candidate who won't do you any harm," former Senator George Mitchell tells Katie Couric on tonight's "Evening News." After that, the specifications of what makes a good running mate are as different as the presumptive nominees themselves (watch tonight's Evening News show for the full report).

Who are some of those potential candidates now surfacing? Let's take a look at some of them and what they potentially bring to the table for the candidates. Let us know what you think about the list and who else should be considered and why either in the comments section or Email us here. And remember, this process is just beginning and these names will change over time.

The decision facing presumptive GOP nominee John McCain thus far has spurred the most speculation for obvious reasons. Conventional wisdom suggests that McCain needs to balance the ticket in several key areas – he needs a conservative to soothe his relations with a key part of the GOP base, someone from outside of Washington to counter his years spent in the U.S. Senate and someone younger who can be seen as a future standard-bearer for the party.

A tall order and few candidates fulfill all those perceived needs. Some don't fill any of them yet still bring a certain rationale. Here's who's getting the most attention thus far:

Mitt Romney: While the two had bitter exchanges during the GOP primary, Romney and McCain have quickly come together and the former Massachusetts governor has all but publicly announced his availability. On the plus side, Romney became popular among conservatives during the primary, fills a policy hole in McCain's resume on economic issues and could help put Michigan into play this fall. Downsides include Romney's failure to take advantages of his huge financial advantages in the primary and lingering questions about authenticity and his the impact of his religion.

Tim Pawlenty: The Governor of Minnesota was one of McCain's earliest and most dedicated supporters and one of the party's rising stars. Having been elected where Democrats have held in recent elections, he would certainly put his home state into play and it doesn't hurt that the GOP convention will take place in Minneapolis. The downside may be that Pawlenty is young, maybe too young and too unknown to thrust onto the national stage.

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Change is all the rage these days. We’re hearing it more and more in statements like this: “It’s time for change in Washington and that change must begin with us.” Or this: “We all know Americans want change.” Or this: “We've got to send a message to politicians in Washington that we are better than that.”

And that’s just what Republican presidential candidates are saying about the government their party has run for the better part of that past six years. What used to be a cautious line to straddle has become an all-out campaign slogan for at least one candidate.

In speeches, ads and an “open letter” aimed at Republican primary voters, candidates like Mitt Romney are talking change. Not happy with how things have gone? “The blame, we must admit, does not belong to just one party,” Romney says. “If we’re going to change Washington, Republicans have to put our own house in order. We can’t be like Democrats – a party of big spending. We can’t pretend our borders are secure from illegal immigration. We can’t have ethical standards that are a punch-line for Jay Leno. When Republicans act like Democrats, America loses.”

It’s no secret that Republicans are running in a very dicey environment, as would-be successors to an unpopular president. An AP report from the Michigan Republican Leadership Conference this weekend summed it up: “How candidates handle the 800-pound elephant in the room now could have implications beyond the primary. Privately, Republican strategists agree their nominee will lose next fall if the general election is a referendum on Bush. They say GOP candidates are wise to distance themselves from the president now, given his unpopularity among the public at large.”

Conventional wisdom holds that, while President Bush is unpopular among the nation at large, he retains the loyalty of many of the GOP primary voters who will be selecting the nominee. Go too far toward sounding like Democrats, the thinking goes, and you risk getting burnt.

But that is changing. Romney won a straw poll at the with 39 percent of the 979 votes cast. Not surprising given Romney’s home-state status there. But look who came in third – anti-war Republican Ron Paul. In his press conference last week, President Bush predicted he would be a “strong asset” to the GOP nominee in 2008. Candidates like Romney appear to disagree – and not just in private anymore.

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