I don't see the need to wait, especially since Justice O'Connor was the one mandated to present the most complete report that we'll get on the security services' actions, on the problems that these actions caused and on the way the services are run. In his second report, he suggests a review of how every service is run.
To my knowledge, that's not the Air India Commission's terms of reference. So, I don't see how the Commission would shed any more light on the intelligence and security services oversight requirements.