The terms for setting up the Inquiry makes clear it will report by the 18th December so it will be a quick Inquiry. It will also be able to question witnesses on oath and appoint a barrister to examine witnesses.
There is obviously some concern that probing MPs have been left off (John Mann is now calling it a whitewash and says he'll set up his own inquiry.)
John Mann, Andrea Leadsom and Teresa Pearce did have a good session last week yet miss out on a spot on the Inquiry. So there is an issue it could lack bite. But the appointment of a Robert Jay style QC could sharpen things up. Will Mr Jay be free from Leveson by then?