I think criminal activity needs to be pursued & punished even when it involves former Presidents, VP's or their henchmen. Ford's 1974 pardon of Nixon (& Nixon's acceptance of same) may possibly have emboldened, GW Bush, D. Cheney, Rove et al into feeling they were also above the law....like Nixon.
I say Obama should step totally aside & let AG Holder do his job & let the chips fall where they may. (a special prosecutor would be the way to go, imo)
We are a nation of laws, not men.