Karlsson has 5 points (all assists) in his past two games.
EDIT: So...
He leads all defencemen on the team in scoring, and is a hair under a PPG at the moment. He's also tied with Daugavins for 8th in team scoring, but has played only 8 of the team's 17 games. 2nd EDIT: Correction: Derek Smith has one more point than Karlsson has. But, he's also played twice as many games.
Definitely, there's no cause for alarm about his offence (although he's still a little too stationary on the powerplay). His defence is still adventurous, to put it nicely. Unfortunately, I'm not sure he has great mentors down in Bingo in regards to the other defenders on the team.
Once he makes it into the NHL, there's going to be a period where he'll have to be paired with a steady defenceman. Kuba - Karlsson definitely looks like a pairing to be considered for next season, although I'm a little irked it wasn't given much of a chance (if at all) this season.
I'm averse to putting Karlsson with Cowen right away, partially to give them each experienced partners but also because I think Cowen needs to get every opportunity to develop his offensive game before having Karlsson run the show on the pairing.
Next season, I would be very happy with pairings like:
Phillips - x
Cowen - Volchenkov
Kuba - Karlsson
*Carkner, Campoli, Lee, Picard - someone will probably have to be moved.