I hope he proves me and the majority of us wrong, but count me in in the camp who thinks he should seriously consider hanging it up. If it wasn't clear before, it's certainly clear now that his knees just can't handle the day to day grind of the NBA game.
The Brandon Roy comparison I saw earlier in this thread is a great comparison.
The conversation should now shift to the Bulls, and how they need to totally start over from the point guard position. I guess if there's ANY silver lining to this, it's that Thibs is a great coach and they still have an above-average roster even without Rose. So this will go one of two ways...
1.) They sign Thibs to a new contract, tweak the roster in the offseason, and gear more towards building around Butler and Noah while distancing themselves from Rose
OR
2.) With constant rumblings about the relationship between Thibs and the front office, they bring in a new coach, blow it up, and start the rebuilding process...while also distancing themselves from Rose.