My guess is he comes back. He has a lot to prove to the scouts. Does he have the same explosiveness he did 2 years ago? What about his shot... can he still drain it at close to a 50% range? For most GMs, he's got to prove his knees are 100% before they entertain thoughts of taking him in the 1st round. I could see a team taking a gamble on him with one of the later 1st round picks as Renaldo Balkman was drafted in the 1st round when he shouldn't have sniffed the draft. I put him at 70/30 he returns to Tuscaloosa.
I've been saying for a while that regardless of his draft status he should remain in the draft. He's graduating, had a really good year, and the most important thing... I doubt he can improve his draft status. Even if he ends up in Europe it's one more year for to earn 6 digits. This year or the next he's at best a late 1st rounder/mid 2nd pick. I can't think of a reason why he should come back. My guess is 60/40 he hires an agent.
Let me add that I can see Hendrix as a poor man's Charles Oakley IF he can improve his midrange shot. He's physical enough, about the same height, and can be a force on the boards at the next level. While I gave up on the NBA after the 99 lockout, I hope he ends up in NY. I assume Isiah won't be there.