I see this as nothing but a tempest in a tea pot.
Its basically not on the tax payer dime, the China set does not have the GWB crest of arms on it, maybe some would want to question wasting a half a million bucks, but there are far more important issues to worry about at this time. Its hard to get angry at a plate, and in a few years no one will remember as that China set will simply becomes another part of White House paraphernalia.
And yes, there will be a GWB Presidential library also, as scholars will use it to learn the lessons of the GWB Presidency from a longer perspective of time. But no lessons will be learned from a China set.
But I can hope that Obama will not not have a similar desire to buy yet another set.