I think it's a backwards move. Palace are relegation-bound and have been pushing above their level due to the managerial expertise of Ian Holloway and Tony Pulis. They wouldn't even be in the Premiership in the first place if it wasn't for years of investment from owners and, of course, Ian Holloway.
Newcastle have been above their level recently too, but I can't see them being relegation candidates for a while. I couldn't see Pardew getting sacked with them currently in 10th when for ages their fans have been pretty crass in their hounding of him. I can't see him saving Palace and even if they did they'd only struggle next season, so definitely backwards unless Pardew is by now simply sick of the club and fans, like I would.
My team, Gillingham, have sacked our manager after fan power pulled through, although I was content with him staying with us. Rumours are that he (Peter Taylor) was thinking of joining Pardew's coaching team at Palace.
Dennis Wise has been seen around the club a number of times recently, including pictures with the boss at a recent charity event. Given his record at Swindon and at a financially, penalty-hit Leeds I'd be happy with him, now that he sounds like he's leaving the setup at Newcastle. Paul Tisdale at Exeter and Justin Edinburgh at Newport are promising managers too.
Whoever it is, I want them in as soon as possible: the transfer window opens in 2 days time.