I've mentioned this before on here, and I never claim to be an insider about anything, but a family member of mine is a lawyer involved in the USC case.
For those Vol fans hoping for some sort of redemption, unless something drastic has changed in the last couple of days, USC will not face any severe sanctions, i.e. loss of bowl appearances, TV ban, etc.
The NCAA could never prove Todd McNair, the key contact for the university, had knowledge that Reggie Bush's parents were living rent-free, or that he was aware of any payments/incentives. The boosters involved kept the university enough degrees away to absolve them.
There will likely be moderate probation, scholarship reductions, and other slaps on the wrist. But it looks like the worst USC will be considered guilty of is having "a lack of institutional control".