I have my own opinion on this but before I explain it, it seems some fans would like to run him out of town thinking they can replace him through the draft easily. Of all the players that the Steelers won't sign or release, I really believe larry has the best chance to stay.
Spence from what I'm hearing isn't fully recovered from his injury and the one he sustained is a serious one that could impact his pro career. Even if he rebounds, he still has no experience and I would think the Steelers would play him mainly on special teams and possibly alternate with either Foote or Sylvester.
I don't think the Steelers are too thrilled with Sylvester, so it looks like ILB will be one of our draft picks. There is some uncertainty whether Spence will recover, their opinion on Slyvester which leads me to believe Larry will be back for one more season.
Larry won't wow anyone with his coverage skills but he still was decent in other duties of that position, led the team in tackles, had 4 sacks and I think he picked one off. I think the Steelers plan was to have spence play special teams and groom him for the ILB spot by alternating with him later in the season to see if he was their answer. They did that with Farrior his last season, alternating with Foote.
Larry still wants to play and he wants to play here, if it doesn't pan out for him he'll retire. I think he'll accept a one year contract offer and most likely remain here as the Steelers want some kind of stability there until a new guy is able to take over.
#50 Good Luck!