There's a great comment thread at Volokh Conspiracy. I strongly recommend it. I also agree with the commenters who suggest defunding the DOJ. I would add the White House to the list. Every White House office. If you are above the law, find your own funds.
Tim F. is bitter, in a slightly different way than I am. His commenters are brilliant though.
Reason Magazine predicts that there will be more posturing before the White House caves in (still arguing it doesn't have to). Jacob Sollum asks this pointed question: "Under this theory, could the president also block the prosecution of an official who, say, tortured a prisoner or conducted illegal surveillance, if the president determined that such measures were necessary, proper, and constitutional tactics in the war on terrorism?" The answer is, of course, absolutely! But unfortunately for the soldiers and intelligence officers who have been instructed to commit war crimes and violate the law these last few years, this president is gone in 18 months.
Joe Gandleman thinks our system of checks and balances may have to be revised. I think the problem is that we have a political party that would torch the constitution if they thought it would give them one additional ounce of power, but as a practical matter that can only be battled at the ballot box, while the constitution itself must be protected through a variety of means.