He's getting a free pass while other riders careers are in question (ie, Basso) because of a bag labeled with his dog's name.

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http://www.cyclingnews.com/news.php?id=news/2007/jun07/jun08news2
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Valverde & Pereiro riding the Dauphiné
By Antonio J. Salmerón

Despite facing strong criticism due to Operación Puerto, Alejandro Valverde has not changed his program and the Caisse d'Epargne rider will be leading the team in the Dauphiné Libéré together with teammate Oscar Pereiro.

Both riders will be accompanied by Florent Brard, José Vicente Garcia, Nicolas Portal, Francisco Pérez, Luis León Sánchez and Xabier Zandio. These riders will likely be the core of the team that will start the Tour de France in London on July 7, with the exception of Russian Vladimir Karpets, who will be leading the Caisse d'Epargne team in the Tour de Suisse.

Here are the options 1) the spanish federation and others convince the UCI to offer an amnesty plan and he has not choice to fess up or 2) ASO excludes him and convinces a french judge to issue an order for DNA testing due to suspected french doping law infractions, followed by similar action in Italy, effectively ending his career anywhere other than Spain.

Other than that I don't see anything happening since it wasn't illegal in Spain at the time.

Here are the options 1) the spanish federation and others convince the UCI to offer an amnesty plan and he has not choice to fess up or 2) ASO excludes him and convinces a french judge to issue an order for DNA testing due to suspected french doping law infractions, followed by similar action in Italy, effectively ending his career anywhere other than Spain.

Other than that I don't see anything happening since it wasn't illegal in Spain at the time.

So who's laws/rules are we following? ASO needs to get some balls.

Is this why Valverde has not gone to "better" teams?

Given the Euro sense of drama about these things, I think it is still a bit too far away from the Tour start yet. A week or so before will have maximal hysteric effect (a cynic would say this also generates maximal buzz/speculation around the tour start as well).

There are a lot potentially on the bubble. Vino/Kloden seem like some frontrunners you have to wonder about.

Mazzoleni's Giro performance was pretty alarming in that regard. How could all those other team managers have been so stupid to make him ride for stiffs like Cunego and Simoni when he is so clearly the better rider (in a Giro that a recent Ferrari column said favored the small climbers too much)? ;-)

I really hope the UCI will offer an amnesty. Otherwise I don't see any way the rest of this season and probably the next won't get flushed down the toilet in unending revelations and scandals as things slowly unravel. As much as people were saying Basso was under pressure to shut up I have to think there is going to be at least as much pressure on guys to help torpedo the Spanish armada to keep things "fair".