Yknow it's odd - I would say he's at the same level as Schmeichel and VDS weirdly enough, he's just a very different keeper.
Perfect for a team with a paper thin defence, constantly active throughout the game (I'm thinking Ole's first game against Spurs here as a prime example). He excels when under consistent pressure, or at least, he did when in top form.
On the other hand VDS & Schmeichel were far more commanding players, who complimented a solid defence where much of their role was organising / clearing out the box from high balls etc, as opposed to straight up acrobatics.
So I think he was the perfect keeper to excel during our gradual decline into the state we're in now. Is he the perfect keeper for our - hopefully - successfully rebuilt side and rise back up to where we should be? I'd say probably not.
Having said that, were he to rethink his position and sign a sensible deal, I'd be all for him staying. Loan out Hendo and see how he develops, maybe even sell with a buy-back as he looks too big a talent both in terms of his ability and mentality to just let go of.
Loyalty does go both ways for me, while we need to set a new precident with regards ridiculous contracts.
I still hope he signs but honestly don't see it being the end of the world were he to leave, as long as we rebuild our defence properly this time.