To me, the question is do we want to go all-in again hoping for a stud (Howard, CP3, Deron) after next season is over. If so, resigning Chauncey so we have his expiring coming off the books makes sense. Who are we gonna get who's better that would sign for 1 year? If we want to go for it next year, then we don't resign him and instead split his salary slot between a big and a pg. That would make us a better team next year, but, I fear, not good enough to win the ring.
All of the above, of course, depends on the how the CBA works out (assuming it does).