UPDATE: I'm told that Chief Blair is going to update the public on Rob Ford's involvement in Project Traveller, probably as early as the end of August or early September. He's just not prepared to do it yet because an investigation is ongoing and any updates right now will compromise the ability to negotiate plea deals with those already charged.
Word is getting out through little bits and pieces of details via cops/lawyers/suspects talking to their friends and spouses that alone say very little but together they're painting a picture: Ford is not being investigated as a suspect, but as a motive that lead to some of those arrested committing a crime. This is why the Chief can't deny Ford's involvement -- because he is involved -- but he probably won't be criminally charged with anything.
However, there's still a good chance that more arrests will be made and that the police will pursue any leads that those already arrested reveal during the ongoing investigation. If for example Siad decides to go on record that he sold crack to Rob Ford and if others in the video testify that Ford was indeed smoking crack on camera, there's a chance that The Crown might want to pursue charges. Admittedly, it's unlikely that Ford would do any significant time because it would be a first offence and so given that he's just one of many customers, despite his high profile he's too little a priority to be given any police resources on this case when there are much bigger fish to fry.
Where there's a good chance of this getting very interesting is with Rob Ford the witness. If Siad refuses to talk and the prosecutor wants to throw the book at him, because they can prove that Rob Ford is a customer (the video), Ford may in fact be called to testify with the impending threat that if he doesn't admit to buying crack from Siad, they'll pursue possession charges. Both are bad outcomes for the Mayor. Imagine Ford on the stand, under oath having to admit to buying crack cocaine. Imagine Ford being taken away in cuffs after being charged with buying crack. I don't know how he's able to function day-to-day with either of these scenarios approaching.
I hope this plays out before the elections because this circus needs to end and the city needs a leader. 8 years of rudderless policy is going to be disastrous for Toronto. Whatever happens, this is far from over and Ford is in an ever more sticky situation. His web of lies and his involvement with criminally charged suspects is going to keep tangling. His only way out is to tell the truth.