No red herrings have been dismissed. As would be expected, the report was self-serving and is being challenged in part by the contractors, particularly Haliburton and Transocean. Cameron has yet to comment.
Its main purpose (all 195 pages) is to provide the story that BP will use in the forthcoming suits and in arguments to limit penalty fines from the government.

Stanley Gordon, the maritime lawyer representing some of the oil workers, took aim at the lack of sworn testimony from people interviewed by BP.
".......people intrviewed, not under sworn testimony conditions, can make comments that are untruthful and there is no legal recourse to pursue perjury in such cases."
No verbatim transcripts of any interviews were produced.

Wall Street Journal, Sept. 9, 2010.

The report suggested the major failures were the cement job by Haliburton and failure of Transocean to implement safety measures in response to the pressure buildup.
Other investigations may substantiate, or refute the BP findings.
Dripping Oil, Sept. 9, 2010.
The government report is in the future, since much testimony remains to be taken.