Ford did the best thing for the country at the time. He put closure on an episode that, had it continued, would have made today look like a walk in the park.
On to the topic: will Obama grant Clinton a pardon? Yes. If she's elected, then he'll grant her a pre-emptive pardon on the ground that, as with Nixon, it puts closure on the matter. If she's not elected, then it's merely a favor for a friend, the way Bill Clinton pardoned Marc Rich.
Now, here's the interesting question: does a presidential pardon insulate one from impeachment? I think not, but I do think it would be one more brick in the wall making it difficult, if not impossible, as a practical matter, for Congress to successfully impeach Clinton after she's elected.
