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Though I personally favor an approach that at least threatens those who subverted the Constitution and treaties and broke existing laws with jail time, a commission may be the more practical route.
The extra-legal activities of the George W. Bush administration are so monstrous, covered with flimsy legal excuses on the level of a boy who's afraid he'll get caught with stolen cookies, that there HAS to be some accountability. There HAS to be some way of telling present miscreants and those who might be tempted in the future that this is wrong and criminal and will be punished.
We've already seen how officials from earlier administrations who didn't seize the power they wanted went underground and emerged again in 43's administration, including officials who were convicted before and then pardoned. Cheney, et al., were resurrected into positions where they were able alter the balance of power among the branches of government and, in secret, conduct numerous heinous acts that were illegal and which brought shame upon the USA. That cannot go unanswered.
A stage not addressed is Congressional and Executive action to prevent repetition. Examples: It should be made clear that the Vice President's office is part of the Executive Branch and that its personnel and activities are public and must be disclosed. Signing statements should be illegal. The Military Commissions Act should be overturned and replaced with an affirmation of habeas corpus and other legal protections. The archiving system for White House electronic communications should be made tamper-proof and accountable. The law on presidential (and vice presidential) records should be reinstated and strengthened so the public has more assurance that, at some point, the truth will be known about Executive shenanigans. All Executive Orders should be public. Etc., etc., etc.
We can't just turn our backs on what has happened, and the people in Congress and the White House who allowed it to happen, during the past eight years.