I've looked at the video (Sarich's hit on Cooke) quite a bit now and I've had a chance to digest. I still think the hit was delivered with intent to injure and with clear intent to make contact with the head. In my book, it's worthy of a disciplinary action. Whether Sarich was lining up a Girl Scout or Matt Cooke is irrelevant: the hit was dirty.
There's something else I picked up on after watching the video a few times: Matt Cooke saw the hit coming. He didn't have time to make travel arrangements, but he had enough time to raise his left arm and turn away from the hit just before impact. These may have been subconscious reactions, but he at least saw Sarich closing out of the corner of his eye; Matt Cooke wasn't blindsided by the hit. That fact alone was enough to minimize the outcome of the hit (Cooke was never unconscious. He got up within moments and charged down Sarich), but it may also minimize the reprimand Sarich will face from the league.
In summary, Sarich's hit was dirty and worth of disciplinary action by the league. Is it suspension-worthy? Perhaps a one- or two-game suspension just because he didn't take care to avoid contact with the head. Did Matt Cooke see the hit coming and embellish? I think that's clear.