DeLay is cleared of conspiracy charges because of a technicality, but is still under indictment on money laundering. Republicans, of course, will see this as vindication, which it isn’t. Democrats will see it as a miscarriage of justice, which it isn’t. You can’t be convicted of a committing a crime before it actually was a crime.
Update: I predicted that DeLay would be found guilty) or plead guilty as part of a deal. DeLay isn't out of the woods yet, so my success on that note is still up in the air.