I have published an excellent article yesterday, [url=http://www.pmhut.com/im-a-sponsor-now-what]I'm a Sponsor, now what?[/url] on PM Hut about Project Sponsors.
The article is essentially a list of responsibilities/best practices that (new) Project Sponsors will find very helpful. The article also sheds a light on the basic role of Project Sponsors.
I look forward to your input/comments.