My personal opinion is that Armstrong is a loathsome creature (lower than Papp or Landis or even Rasmussen). I'd like to see an indictment that requires proof that he was a doper, but I can't be a cheerleader because I have not seen anything like sufficient proof for a criminal charge. And sufficient proof just gets you to the starting gate. The Attorney General has huge discretion. Armstrong would never be charged based on mere probable cause--the feds would want good, convincing evidence--like they had for Bonds, Clemens, and Hairy Tammy.
Time is the friend of the defendant. Very rarely does a good thing happen after a continuance. Memories fade, attitudes shift, people get lost or die. This would be obvious to an experienced prosecutor.
You need PC to get a search warrant. The prosecutor would want a search warrant if he was after documents. Documents are the bread and butter of a fraud/tax prosecution. The fact that there have been no such warrants is is an indicator that no PC for a warrant exists. Subpoenas duces tecum suck compared to a warrant because you can grab the docs before the target can lose them or modify them. The subpoena depends on voluntary compliance and contempt sanctions.
I am rebelling against the unsupportable assertion that an indictment WILL be coming. Nobody talking about charges on this forum has ever talked about a concrete charge (with elements and facts and a date of offense). It is just "drumroll" in different forms, over and over again.
Such a concrete discussion would be useful. If I could come up with a plausible charge, I'd start the discussion. But I can't. And so far, neither can anybody else.