In a word NO.
In a paragraph, the Jazz need to do something for the guys that come through that are fan favorites or make significant contributions to Jazz history but don't reach jersey hanging status.
Matt Harpring, Bryon Russel, AK, Okur, Thurl Bailey, Ostertag, Deron, Boozer, Milsap are all possibilities. Also what do you do with Phil Johnson? A Wall of Fame, or the Jazz High Notes or something with these guys names and some refrence to thier stats or something would accomplish that. The guy comes back, the fans applaud, name goes in the corner of the game floor and a plackard or something goes in the hallway.
And while we are on Jazz memorabillia, if I ran the ESA for LHM I would have Jerry Sloan quotes about playing hard and wanting to win all over the building--its a better tribute than a statue, and helps tie in the past to what is happening today. But the Jazz don't pay me to think up ideas for them so my idea will soon be forgotten.