Richardson will probably end up Secretary of State.  He's by far the most qualified for that role.  I can only grin at thinking about a merit-based State department under his charge.

I think Richardson endorsed Obama despite his strong ties to the Clintons because he sees in Obama a willingness to give diplomacy every chance.  People like Chavez are not inherently anti-United States, they're anti-George Bush imperial policies.  Quite honestly, I've enjoyed Chavez's criticism of Bush and his policies.  While I'm a bit concerned about his president-for-life policy, he doesn't seem to be genuinely despotic... he diplomatically diffused the crisis between Columbia and (I'm blanking, was it Ecuador?) last month fairly deftly even though Bush was rattling some serious sabres.

I think Richardson, in an Obama administration, could really make inroads, and perhaps even secure a favorable oil deal with, Venezuela.  Better them than freaking Saudi Arabia, I say.