Suppose President Bush is telling the truth that he really did declassify the intelligence information while authorizing Scooter Libby to leak it. Then what plausible explanation is there for Libby to hide the fact that he was the leak source? By hiding it, he became the subject of an indictment investigation. If the supposition is true, then I can think of no logical explanation whatsoever for Libby's actions.
The only logical conclusion is that he hid the leak source because the information was still classified and he was trying to protect his bosses.
The Bush spin/lie team probably will once again save the day with the declassification claim.
Regarding President Bush being the ultimate leak: Didn't his mother ever tell him that just because you can doesn't mean you should?