According to today's Times, he's still not throwing at full power. Hargrove estimates that Pokey will need about a 10-15 game rehab stint in the minors before he's ready to join the Mariners, but given that he's still a little ways away from playing shortstop in a competitive game, we're looking at another 2-3 weeks of Wilson Valdez, at the very least.
Valdez has created the illusion of being a productive offensive player by making contact and hitting some singles. The reality of the matter is that he doesn't walk and doesn't hit with much authority, which leaves him with some of the emptiest batting averages you'll ever see this side of Kerry Robinson. Fortunately, he's played strong defense, and we'd already prepared ourselves for minimal offensive production from short before the season, so Valdez is a palatable stopgap who'll probably average a hit a game until Reese comes back.
Once that happens, though, he should be gone, because these kinds of players are everywhere and it's silly to grow attached to one of them in particular. The Mariners will try to pass him through waivers so that they have a little more Pokey depth in the minors, but a decent batting average over the next few weeks will make some team interested enough to claim Valdez before he clears. At that point, we either give him away or trade him for some other non-roster no-hit middle infielder, but it shouldn't be a big deal. Valdez is a 25th man in a player pool full of available 25th men, and while it's nice when they come in and do a good job for a little while, it's important to remember where they came from in the first place.