Don't believe the hype!

So there's been a lot of talk the last few days, since Scooter Libby was indicted, that Karl Rove is still in legal danger. Let me preface this by saying that I know absolutely nothing about Patrick Fitzgerald's investigation except what I read in the newspapers, but having sat on a federal grand jury, I find it highly unlikely that Rove will face any kind of indictment. Here's why:
Now that the grand jury Fitzgerald was using has been let go, he would have to basically start again from the beginning with a new grand jury. Every piece of testimony relating to Rove would have to be presented once again to the grand jury, either by reading transcripts, bringing FBI agents and witnesses to testify again, etc. It seems like a lot of work for a guy who said he was looking forward to getting back to Chicago. If he really wanted to indict Rove, I think he would have done it last week. Remember--grand juries really will, as the cliche goes, indict a ham sandwich, so he must not have had enough evidence to have won a case at trial.