Despite my anti-Feingold broadside below, I think that there is a reasonably good political case to be made for censure. It's important that we see how this case goes.
First let me explain how it doesn't go. There is no great mass of voters out there who will learn the law, look at what Bush did, determine that Bush broke the law, and come to support the Democrats because they support censuring Bush for his illegal acts. For this to happen, Americans would have to learn the law. Any plan that involves the American people applying laws that they did not know at the end of junior high school will fail. If we try to educate them on the law, they will not learn. Republicans will advance bullshit interpretations of the Constitution on which Bush can invent eight new laws each day, the media will go he said/she said on everything, and the only people who will be convinced by us will be the ones who were disposed to agree with us from the start.