I'm good with keeping a very high standard for Jersey retirement. The only person not up there that I'd consider is Nate Green; MVC player of the year, MVC Defensive player of the year, top 10 in a bunch of major stats and a NCAA appearance is pretty good credentials, outside of that I don't think there is anyone.
Instead of a ring of honor, what I'd like ISU to do is give a permanent plaque (like they do for the ISU hall of fame) to every 1,000 point scorer and put them on the concourse wall around Hulman. 1,000 points is a good balance of success, longevity, and accomplishments worthy enough to be remembered forever. Give em' their picture, what years they played, points scored, other stats, and a brief synopsis of their time at Indiana State with any memorable games mentioned (the Cooper Neese game, The Tuttle Game, Brenton Scott leading ISU to wins over Butler, IU, etc). Doing something like that might also help keep a guy around another year or 2 if they have a chance to have a permanent plaque of themselves. Seems like a good way to remember all the real good players that have worn the blue with a cut and dry mark they have to hit to get it