I just finished reading a transcript of a discussion between Richard Bushman and a panel of journalists discussing the interplay between The Church of Jesus Christ of Latter-day Saints and politics. The discussion, Mormonism and Politics: Are They Compatible?, took place last year as part of the Faith Angle Conference, sponsored by the Pew Forum on Religion and Public Life. The transcript is long, but I found it fascinating.
A lot of the discussion focused on Mitt Romney's then-approaching presidential bid, and how his faith would affect his politics and others' perception of him. The discussion also included a lot of interesting history on Mormon politics, especially the rapid transition from radical policies to quite conservative ones between about 1890 and 1910. It's worth a read.