While last summers deadline deal to sign Craig Bellamy was initially overshadowed by the departure of Raul Meireles, the Welshman proved to be immensely valuable as a source of energy and attacking inspiration. He was one of the few players on Liverpool last year who could consistently score when put in the position to do so, and the attacker that perhaps linked up best with Andy Carroll.
Unfortunately, Bellamy is 32 and has already begun showing his age, most notably in the second half of last season. However, he still is worth keeping, although not as a starter. Because his transfer value is pretty low, it isn't like Liverpool could use his sale to turn around and buy anyone at a much higher value. The fact that he can serve as a mentor for a younger player such as Raheem Sterling could prove very important, as Sterling could probably use a veteran to help him handle the bigger stage of Anfield in the correct manner.
If Brendan Rodgers is able to sign a productive winger to start on the right side, then Bellamy could be consistently deployed in around the 75th minute of matches to attack tiring defenses as either a forward or on either wing. A tiki-taka system could suit Bellamy's ability to make quick, accelerated runs behind defenders in the final third. On a lesser scale, the result might end up being an emulation Alexis Sanchez's deadly runs in the box for Barcelona.
At the end of the day, Craig Bellamy is someone who can provide vital intangibles for Liverpool. Yes, sometimes his emotions get the better of him, but its those same emotions that make him a joy to watch every weekend. He works hard, he seems a genuine person, and he doesn't take no for an answer. While he may choose to continue his journey with Cardiff, I know that I'd be happy to keep him.