1. They(the current adm.) is involved.-Yes
2. They may get spun by the press whether or not they were involved.--True. At this point, it seems that they have at least been involved with a cover-up.
3. It was the Clinton adm. fault all the way but Hillary has the FBI files and is always threatening to use them.--Could be a factor. Based on the 10/5 hearing, it looks like the risks of further cover-up must outwait the files, if they exists in this case.
4. GW covered for Bubba. His father, 41, has great respect for the office of the Presidency(regardless of who holds it) and out of respect for his father GW would not pursue it like so many other things he has not pursed.--Jim Quinn, radio host in S. W. PA and eastern Ohio believes that Bush II goes easy on Clinton because Clinton has dirt on Bush I.
5. Maybe GW has finally had enough of Bubba's backstabbing ways.--this is no doubt true. Bob overplayed his hand big time with his latest attack on GW's invasion of Iraq.
(Nice analysison your part).