OSU has an impossible job of coming up with another coach that can win the Big Ten and go to Rose bowl or title game every other year. His winning percentage of .82 is about as well as you can do in college. Coaches succeeding and winning and have established their programs are not leaving. That is more reason to think tOSU has Meyer at the top of their list and will offer him the position before January 2012.
I think the NCAA investigation will not be finished in August. Some of the allegations may be addressed in August, but looking into players behavior and running down that information will be lengthly. NCAA has no reason to hurry on investigations as long as they get them right.