Written by the Pres/CEO of ThomasNelson (6th largest trade publisher in the US, 2006), this is a nice article both in size (10 pages) and in example (lots of illustrations of what he likes to see).
What does Michael Hyatt want to see? Five things:
1. captivating cover letter;
2. title page;
3. proposal overview (the content, the market, and the author);
4. chapter-by-chapter synopsis; and
5. two sample chapters.
What does Michael Hyatt advise? Two things:
1. Decide what you want to say; and
2. Decide to whom you want to say it.
Lots more in this downloadable article (pdf format). A must read.
Mr. Hyatt has a very nice blog, too, entitled, "From Where I Sit: Musings on the World of Publishing."