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Wallace has had a solid career and has proven himself as an energetic force on the court with no real regard for his own bodily harm.
He could be a really nice piece to have on the team to play with Deron Williams and Brook Lopez and if he accepts a player option this offseason, he'll likely be around at least a few more seasons.
Wallace is turning 30 this summer and has plenty of mileage on him, but he is still a good core player to have on a team who still produces great defense and a nice scoring touch.
The Nets should definitely consider keeping him long term, especially if they end up losing both Deron Williams and their first round pick in the 2012 draft.