Busy busy day, at work and home. Did get to read some on Obama’s executive privilege claim. You’re probably up to speed on that.
My non-lawyerly take is similiar to an expert’s. Get the situation to the judicial system, stat. Ideally the Supreme Court.
Obama claimed he knew nothing about Fast & Furious. Ergo, he had no privileged communications in the first place. If that was a lie, he should have claimed executive privilege at the beginning. So letting him get away with this is wrong no matter what truth comes out.
Not that I expect this result, of course.
World's Only Rational Man 
I think the important part of the EP is that if it is claimed, the WH is involved. Obama says he didn’t know, then why claim EP? He knew. Why else would they want to cover it all up under EP?
There’s now the thing going how it’s, again, Bush’s fault. But even if that is true (personally I find it hard to believe that the ATF can cook up something like that within just a few months, it’s even more unbelievable when one takes a look at the hardware that smuggled, some of this stuff is impossible for the ATF to get and suggests CIA involvement), then Obama continued with it. The issue with F&F isn’t new. It’s been going for a while. So if it’s Bush’s fault and Obama knew nothing, why not publish it all when the crisis popped up the first time?
Because Obama is in on this up to his neck. Just like Holder, just like the ATF.