Do you really think that not choosing Hillary will hurt Obama come November? There's a lot of people out there who think that an Obama/Clinton ticket would have been unstoppable. I don't think so. She is too polarizing and Obama/Clinton wouldn't gel well together, let alone Obama/Clinton/Clinton.
I like Biden and what he's accomplished during his long career. He is occasionally prone to doing (more specifically saying) surprisingly stupid things, but if he can keep his mouth under control, he should help the Obama campaign.