I like Arenas. It doesn't hurt to look, and see what he has.
His value is at an all time low. I think any GM would be foolish to not try to get value for a fraction of the price. He probably lost a step because of the knee, but he can still shoot and knows how to play the game.
I take him over any of the scrubs we have on the bench trying to play guard.
Soylent Green is People!