Aside from all of the junk that is being posted (if you want to write about the war or racism, please start another thread), I believe that KK could run the trials and would have a great shot to make the team. As Steve Scott has talked about, all those miles KK has put in over the years are "money in the bank". The cross training would probably keep him fit enough to get a good base in. Just gut it up for the race and make the top three. Then, you have six months to get fully prepared for the Olympics. If this was what I believed to be my last shot at the Olympics, nothing could keep me from the line on February 7.
I think KK's biggest problem has nothing to do with race or money. So many runners these days won't run unless they have the perfect conditions for success. The weather, the competition, their training. When KK set those world records, his training came along perfectly and he had prime conditions to run fast (London and Chicago are big PR courses, as we all know).
If a runner hits one little speedbump, then they just call it off. What would have happened if Viren had given up when he fell down in the 10K final in 1972? He would have given up a gold medal and world record. No one would have blamed him for not getting back in the race. What if Joan Benoit had said, "Well, I just had knee surgery 17 days ago, so I guess I just won't be able to run the Trials"? No one would have blamed her, but no one would remember her, either. On a lesser extent, Brian Diemer had a stress fracture in his back and had to spend six weeks in the pool before the Trials in 92. He could have just said, "I've already been to the Olympics twice and have a medal, so I guess I just won't do this." Instead, he ran his butt off in the water and won the trials. If he had decided not to run, no one would have blamed him, but his victory in the trials that year was one of the best stories to come out of New Orleans that year.
Fortune favors the bold. I hope that KK changes his mind and decides to line it up on February 7.