To me, bringing back Kerfoot is another middling option in the Wennberg tier, with the baggage of being a former player.
The pros are he's above average defensively, and does all of his offensive damage at even strength. Both of those are things the Avalanche need help with right now. Kerfoot's 9 power play points this year are by far his most since leaving Colorado; he had 9 power play points total in four seasons with Toronto, where he had 50 ES points one season.
We're all too familiar with the cons: consistency, size, and the question of whether he's really a center. He's played a lot of C this year, but is currently playing LW.