If you want a cofounder for a startup: sanity, trustworthiness, determination, general intelligence, hacking skills, and ability to do things you're bad at.
By sanity I'm assuming you mean serious horse's-head-in-the-refrigerator loopiness and not the sort of insanity that makes grown men construct trebuchets or think they can write novels. Also, I considered trustworthiness and honesty for that list but didn't include them because I think most people are honest and weeding out the remaining few may take time, but those are all good points.
That's interesting. Can you say why you suspect that without naming names, or list some traits that would make someone too crazy to work with? Did anything specific happen at a company you can talk about?
I can't think of anything that would qualify any of the dozen or so programmers I know as crazy. It'd be interesting to know what a crazy hacker is like.