The question, Bob, isn't whether or not there is a criminal violation. The question is now whether or not the Assistant United States Attorney will accept charges. A great deal goes into that decision, not the least of which is the ability of the accused to make noise and cause problems for said AUSA. If there is no indictment, it's because the AUSA was either too lazy to deal with political fall out, scared of the political pressure, or received some form of quid pro quo.
The criminal claim is out in the open and been freely admitted to. There is only two questions that really needed to be asked: were there classified emails stored on an unclassified system under her direct control? Yes. Did she take appropriate steps to keep track of the information and go back to clean them once the information was classified retroactively? No.
I think around two dozen counts, each carrying up to twenty years.
That's bad times.