Franklin should easily walk into the test team, when his bowling is fully functional.
The only problem with the ODI's is, Bond, Oram, Elliot, Styris all still play in them, so our middle order is reasonably settled.
Also since Vettori has come up the order to bat number six/seven now, he will have less opportunities.
For our test team maybe:
Top Three (1 - 3), Taylor (4), Ryder (5), Franklin (6), Vettori (7), McCullum (8), Three Pace Bowlers.
That would add a lot more depth to our batting, with McCullum all the way down at eight, also if any of those 4 - 8 batsman our left with Martin, they can all smash some quick runs, as they are all naturally aggressive.
In our bowling, we would still have three specialist pace bowlers, Franklin, Vettori, plus Ryder, and maybe Guptill if he plays. That still leaves us with plenty of bowling options.
In ODI's:
McCullum, Ryder, Guptill, Taylor, Elliot, Oram, Vettori, Four Bowlers
See there it is a lot harder for him to get in as the top seven are all pretty much gaurenteed of their spots
Unless they play him as one of the four bowlers, or Oram gets injured, I don't see an ODI place for him.