This 100x. Even before his 2nd injury he looked very good athletically. Problem is, basketball is a game thats heavily predicated on rhythm, and you don't just play sparingly for 2 years and then go back to a world beater immediately. He needs a sustained run of health in order to get his groove back.
I don't think he will be able to hold up health-wise in the grinding 82 game NBA season. I was a big Penny Hardaway fan back in the day and he often showed "flashes of his old self" in the off-season and every year he would proclaim that he was back. This was probably because in the summers, his knees would recover a bit. The fact is, serious knee injuries that were repaired rarely hold up in the long-haul that is the NBA season + playoffs + training camp.
I doubt his name should be thrown around with the LeBrons, Durants and Westbrooks anymore Rocket River