Chip Long would be my preference of the names I've seen out there so far. It would cost us Locksley if we hired him, but I like him as a playcaller far better than I do Locksley.
Locksley's collegiate career as a playcaller is pretty bad. He's been an OC in a spread-option system (Illinois) and a pro-style system (Maryland). At both stops, his teams were consistently among the bottom in offensive output, turnover margin and passing efficiency. His 2007 and 2008 seasons at Illinois were a little better, but not by much. Locksley is here now because he's a good position coach and an excellent recruiter. There was also some drama within the receiver corps this year related to the quarterback battle and Locksley probably singlehandedly kept that unit from completely imploding more than once. There are a lot of reasons to give him the job but none of them have to do with playcalling, unfortunately. As of last Saturday (Jan. 13), he was a virtual lock for the job but that has since changed somewhat.
Hugh Freeze's name is out there but I don't know how serious Alabama is right now about him as a candidate. Saban talks to a lot of coaches every year and not all of them are for the purpose of hiring. Some is to get background info on other coaches. What I really wish is that Dan Werner hadn't jumped to South Carolina when he did. If Freeze really is a candidate then this is going to be like the Lane Kiffin redemption story except the wounds are fresher.
As far as I can tell, Jim McElwain is not a candidate and neither is Doug Nussmeier. Both names have been floated by national media members but so far, only by them as far as I can tell.
There is also a chance you might here a name or two come out of the NFL level as teams go through their annual personnel purges and whatnot. Terry Robiskie (OC) and Sylvester Croom (RB) are both on the Titans staff, as is Jason Michael (QB, former OC), and Michael and Croom both have SEC experience.
Florida State is pursuing Locksley pretty hard. Alabama won't be able to wait this one out forever. If Bama hires Long (or anyone other than Locksley), it's going to trigger another shift among the staff.
Alabama could end up replacing 6-7 assistant coaches this cycle.