Do you want him as the back-up center?
Let's put Dolan aside (which could very well be the reason why we wouldn't get him).
I'd love to have him on our team again, but Jeffries has been doing an excellent job, loves being on the team, and is much younger. Of course Jeffries could move to the PF spot most of the time, but we have Harrellson. I rather not see Jeffries be a third stringer who rarely gets playing time (don't forget how important he was this season), but it's hard to argue against having Camby coming off the bench for Tyson.
Camby said he'd like to finish his career in Portland and stop moving his family around, but he was traded to Houston today so obviously you never know.