Courtesy of Scans Daily, Neal Adams draws Dick Grayson as he was meant to be seen.
By now you've all heard Didio's vile plans for the boy, and how they were thwarted. While I do agree that thematically speaking, Grayson's death would have made Infinite Crisis a hundred times better, I can easily see the reasoning for keeping him around. His role, as demonstrated in this picture, and cemented in Infinite Crisis is vital to the Batman Mythos.
The only problem is that they insist on giving him a solo book. This character is not a headliner, no matter what you do. He is a teambook character, a supporting character and needs to be attached to a star or a group (that is not written by Judd Winick). Dick Grayson is defined by his relationships. Left alone, he angsts and whines because he's lonely and needs his superhero buddies.
Now, the intricacies of this character have been well-documented by a number of others on their own blogs, so I'm not going to get into the details. They make much better arguments than I ever could.
Instead, I offer a few comments, and this page to the argument -- because it sums up my view of the character and his value better than words ever could.