According to this ESPN.com article, Bud is considering it:
MLB commissioner Bud Selig appears to be "seriously considering" reinstatement for Pete Rose nearly 20 years after the hit king was banned from baseball for gambling on the sport, according to a report in the New York Daily News.
Hank Aaron's support for Rose's Hall of Fame inclusion, which he mentioned at this weekend's ceremonies in Cooperstown, N.Y., is a strong indication of Selig's possible action, the Daily News reported.
My position on this is well known. I think if Rose had come out 20 years ago and admitted what he did to Bart Giamatti, he'd likely have been suspended for a year and then reinstated. But now? Why now? And Rose will still, IMO, have to come out and give a definitive admission and apology.