1) Better than Rubio: Yes, Rubio is young, attractive, Hispanic, and a great speaker. I hope one day Marco Rubio will be POTUS. But right now, Jindal trumps Rubio in every area it matters. Jindal's experience is incredible. The things he accomplished at the age he accomplished them are nothing short of amazing. Running a 12,000 person department of Health and Hopsitals at the age of 25? President of the 18th largest University system in the country at 28? Congressman, Governor, Rhode Scholar... the list goes on.
If you thought Rubio would be a good voice for promoting legal immigration and opposing illegal immigration, Jindal trumps him here, too. Not only are Jindal's parent's legal immigrants from India, but so is his wife. Sure would be hard nailing Jindal as "anti-immigrant." Also, Rubio has floated a version of the Dream Act which may or may not be all music to conservative ears.
2) Health Care: Often overlooked when discussing Jindal's VP prospects is his expertise in the field of health care. A weak spot among conservatives for Romney, Jindal not only fixes that, but he automatically becomes the most informed and articulate anti-Obamacare and pro-health care freedom voice on the national stage. If Romney needs help in the field of health care, Jindal has the resume to bail him out. Jindal's record in Louisiana on health care (both as Secretary and Governor) is impeccable. Jindal would own the subject.
3) Sufficiently Experienced: Romney once said he would pick a Governor to be his running-mate. Most of the current crop of Governor's that are plausible selections were all elected during the 2010 tea party revolution. Selecting one of those candidates (or a Rubio, Ayotte, etc) leaves open the experience questions. While I disagreed with those arguments before, they were used with effect against Sarah Palin in 2008. Jindal would be practically immune from the experience question. Yet he still has the street cred of any other tea party Republican, just with a lot more experience.
4) Not a "pander" pick: If Romney were to pick a woman or Hispanic, he would be accused of pandering to women or Hispanics. If he doesn't choose a woman or Hispanic, he will be accused of ignoring both groups. So, it's pretty much a lose-lose situation to pick a boring white guy, or to pick an exciting Hispanic or woman. Well, Jindal offers yet another fix-all. As the second-ever Indian-American elected to Congress, Jindal is obviously not the oft-criticized "boring white guy" that has become the unflattering stereotype of the GOP. At the same time, it's not like there is a large Indian-American base that the two parties are desperately fighting over. Jindal sorta checks off the diversity card without coming off as pandering. Meanwhile, he checks off every conservative credential card, and, in major ways, the immigration and health care cards.