aps,
Lets be real. It was a public appearance. You don't really expect the Pres to disclose his own secret program in such a situation (or at all) and thereby help our enemies, do you? Remember, this NSA program is highly likely to be based on new technology, or perhaps an extension and/or significant improvement to the old Echelon program. For Bush, or anyone else, to disclose the program and/or its capabilities to our enemies does a huge disservice to all Americans. But that was then; this is now.
I grant you that al Qaeda has certainly long ago learned that their communications are not secure. Hence, most reports now suggest that they are using human couriers whenever their need for security is paramount. But they are also reportedly making extensive use of 'throw-away' cell phones. We have no way of knowing, at least not yet, but I'm guessing that the NSA now has some improved capability for tracking these as well. If so, the NYT article has no doubt made al Qaeda even more cautious.
I'm assuming that there will be congressional hearings, and indeed think there should be. The cats out of the bag now; given the seriousness, both potential and perceived, hearings seem appropriate. The worrisome aspect of hearings is the likelihood that some of the highly classified technology will get out - congressional hearings are notoriously leaky.
Make no mistake: if it is ultimately ruled that Bush exceeded his authority and the program is illegal, I'll join you in sending him the metaphorical river. But, right here, right now, all we have are our opinions based on what we read and hear.