I think they believed that Williams would be more likely to stay... and having Wallace and Williams in place would make signing Howard more likely. We will see... it may work... I didnt like it at the time, and tend to believe that Wallace has already started to lose his athleticism and will be marginalized by the time NJ is better.
Probably opting out to get a long term deal that pays $7-9 annually instead of having only one guaranteed year of $12
I've always like Wallace's game, he always seems like a hard worker and good sport. I wouldn't mind him as a rocket at the right price at all.