It does matter because it's a matter of perception - perception by a majority of the American voting population that in their day to day lives merely absorbs "edges" and "glances" of the news.
This whole manufactured episode will matter in 2006 and 2008.
You are right. If I was a normal moron that got my news from E! or MTV, I would have already thought they were indicted and Bush was being impeached. Just like Delay's indictment makes him a slimeball to 65% of America. It won't even make the front page when a judge somewhere at some level chortles as he throws it from the courtroom. The thing the Repubs have to do is repeat over and over again that The CIA director talked to Cheney( which I hope is still legal in the US), then the VP talked to His Chief of Staff( which I hope is still legal in the US), and he may or may not have had a conversation with a reporter.
Now if Scooter never mentioned her name, no foul, If he didn't know she was undercover, no foul, if she wasn't undercover, what the hell is this all about anyway? This is all just a load of crap and the MSM believes the government is coming down.