Here's one issue that hasn't been mentioned yet...Ronnie Earle (the DA pursuing the case) has a pretty well-known history of going after political rivals. This includes both Republicans (he got an indictment against Kay Bailey Hutchison, which never came to trial) and Democrats (he brought suit against Jim Mattox, who was running against Ann Richards, who did have the support of Earle). Mattox was acquitted.
As much as I hope DeLay goes down, Earle's history doesn't make me optimistic. He's a political opportunist, and I think he's just engaging in some good, old fashioned dirty Texas politics, which would be consistent with his historical record.
Besides, what exactly does 'criminal conspiracy' mean? Wouldn't that be awfully hard to prove? I'd think you'd need a major smoking gun for that, and I just don't see DeLay as being that sloppy. Corrupt, but not that stupid, especially when it comes to fund raising techniques.
"Teach children that they have great potential because they are human." -Warrior
Erm, in MI-5/Spooks, the threat to national security in various episodes has been anyone from the IRA to al-Qaeda, enviromentalists, hackers and socialists. And guess what, people from all groups got pissed off (well, maybe not al Qaeda).