The Knicks don't keep Walsh around for his beauty—it's his brains they're after. Hopefully they keep him around a little longer. Walsh hasn't necessarily wowed the basketball world in any way in the past few years, but he has done exactly what the Knicks needed him to do—dump salary. He brought veteran players in at the right time with expiring contracts (McGrady), and he cleared enough room for the Knicks to sign Stoudemire in the offseason, trade for Melo and still have room for another all-star type player.
Also, perhaps the biggest and most unsung move in years for the Knicks, is the drafting of Landry Fields.
Walsh was the one who wanted Fields, and that has turned out to be the best draft pick by the Knicks in years. Much better advised than picking Danilo Gallinari over rising stars like Brook Lopez and Serge Ibaka, just because Mike and Danilo's dad were good pals.
The only snag I see in this whole situation is the disagreement on the Melo deal. Donnie didn't want to dump the talent that he did to obtain Melo, and it's a major debate. Some say the Knicks could have easily signed Melo after the season and held onto their other players. Others, including Melo himself, say that he would have signed elsewhere, even though New York was his number one destination.
We'll never really know for sure what the right deal was, but either way Donnie is fully committed to this team, whether or not they did what he wanted.
Verdict—Bring back Donnie, no question