I don't think Stepan is ready for a letter. He has to stop being completely invisible in the playoffs first.
He's been one of our better players considering he got some shots on goal this series, netted what would have, could have been the game winner in game 1. Played solid defensively when everything seems to be falling apart. His 2 game winners in the first round are worth something as well. He's our leading goal scorer, is he not? If we're going on the basis of disappearing in the POs, Callahan should not get a letter for the most part. Again, if that's the measure, Henrik will get
They are either going to buy Richards out in which case we can all speculate about who gets the "A" (although it has zero tangible impact on wins and losses) OR Richards will be back for one more season. If he is back, he retains the "A" (Just like Drury retained the C even when he was a shell of himself).
Further embarrassing a proud player serves no purpose. The leaders of the team ARE the leaders, regardless iof what letter (if any) they have on their jersey.
It seems like the team honors whether you've worn a letter in the past for the team, so if Richards loses the A or his roster spot Girardi probably takes the A. I'm sure Stepan and then Nash would be on deck to wear one if anyone got hurt.