Being all sentimental I know, but I hate seeing Wallace in Jacoby's #12.
I hope you're right about the resurgence of his career, but no, won't be feeling it if someone wears it after Wallace because of that. It was about who Jacoby was, not just what he did on the field.
While Jacoby is one my favorite Raven's ever, I'm sure Wallace will contribute just as much, if not more (though Jacoby was the best return man in the game during his time here so I'm hesitant on the "more" part).
He might just be waiting to see what happens with the other numbers. It could change but, yeah, it is weird.