Well, even if he did decide he didn't want to run, he may do the NRSC a favor by keeping his name in there so that they can claim they have more potential seats in play to their donors
Things could get bad if Linda Lingle (R-HI) and John Hoeven (R-ND) decide to run.
Whilst Dorgan may face more of an electoral battle than usual if Hoeven runs due in part to the Republican lean of North Dakota, Inouye wouldn't be in any serious danger if Lingle was to challenge him, due in part to the Democratic lean of Hawaii.