Melo won't win MVP, but if he can sustain this level till season's end, he should rightfully be back in the top 5-10 of the league, and closer to top 5. His scoring is down but his impact is up. He's a MVP caliber player when he's averaging 20-22/8-10 boards/4-5 assists. That's a balanced all around impact game. This is the first time I've truly loved Melo. He's playing like a Pippen/James hybrid player. Very very nice.
Thomas will likely be in the MLE range, unfortunately. I think 5-6 million a year. Not sure what the Knicks will do. They do rely heavily on their starting 5, and should have all of them back. So then it comes down to what they can get with their capspace vs keeping Lance. I hope we can keep him, but I'd want to first try and get players with higher skill level like Batum, DeRozan, Parsons - before and see what's left after money wise.