Christina Kahrl is, of course, completely right that MLB should do nothing to fictionalize their official records as a result of the Barry Bonds conviction, which means, I suppose I must admit, that Bud Selig is completely right. Of course Barry Bonds holds the single-season and career records for home runs. Heck, I can't stand Pete Rose, but he's obviously had more hits than anyone else, just as Bonds, whether anyone likes it or not, has hit more home runs than anyone else.
As far as the Hall of Fame is concerned...we've had this discussion before, but I think Tim Kurkjian is wrong that Bonds (and Clemens, and the rest of them) aren't going in. I don't think Bonds will be a first ballot guy, and it wouldn't shock me at all if it takes a while, but as Kurkjian points out, if they wind up taking a strict line with (those they consider) the steroids guys, at best the Hall is going to wind up being irrelevant. And that's too risky for them to do it.
Remember: the Hall of Fame is only the Hall of Fame because everyone collectively treats it as the Hall of Fame. If it turns itself into a joke, then they'll be risking the possibility that someone else will set up their own shrine and start holding their own inductions -- and in a far more convenient place, too. The honorees themselves are critically important to all of this, but so are just plain ordinary fans, who treat Cooperstown as important.
And irrelevant is the best they can hope for. We know that lots of players in the current Hall used amphetamines (that is, illegal performance-enhancing drugs). I'm confident that the Hall has already let in at least one steroid user (no, I'm not thinking of anyone in particular); sooner or later, someone already in will be exposed or will expose himself as a user. Most likely, more than one. Then what? The chances that they'll look like complete fools are high. Much better to just let 'em all in, and I'm confident that they will, sooner or later.