1. It is solidly within the realm of possibility that a person who spends all his time devoted to succeeding in tournament chess would be able to devise a cheating method that cannot be easily detected by standard protocols
2. It is impossible to prove a negative, so it is impossible to disprove Magnus' claims
With these things being said, it is both possible that Hans didn't cheat and we'll never know for sure, or that he did cheat and we'll never know how. Given these facts, the most productive analysis would be to find just how unusual Hans' performance, both in the game and prior, really was.
A few things could be determined:
1. How many other high level players have a history of cheating? Have any players who have once cheated in a lower stakes match later been proven to have cheated in a higher stakes one?
2. Based on improvement per game played, how unusually rapid was Hans' development in the past 2 years? Are there other players which have progressed as rapidly as he has despite having progressed slower earlier in their careers?
3. Do all the engine correlation analyses that implicate Hans not fire warning signals when analysis any other game by confirmed non-cheaters? Do they signal cheating in a similar way when analyzing games of proven cheaters?