Per The Big Lead, Barry Bonds has been indicted for perjury and obstruction of justice. Keep in mind that if Bonds is convicted of perjury, he could get several months of jail time.
Rob Becker does a nice job of breaking down this situation. He considers five years in prison the worst possible outcome for Bonds (even if found guilty of all charges). Most likely he’ll get little or no prison time, since he doesn’t have a criminal record and may plea bargain.