IT is still in a pretty good situation. Lakers, by all accounts, seem to see the writing on the wall as far as free agency this summer, and have made several comments about wanting to keep IT around.
If the Lakers flake out on the big free agents, which at this point seems inevitable, expect IT to get a Caldwell-Pope like 1 year big money deal to keep him around and for the Lakers to maintain long term flexibility while hitting the cap floor.