I still think Valverde should be banned till after Romandie. Give him his results of 2010 back and ban him for a full 2 years. He basically got of with a 1.5 year ban. Though I guess his 4 year ban in Italian races kinda justifies it.
But Valverde hasn't looked like his 2008 super self in 2009 and 2010 anyway. In the classics of course. He only won the Klasika Primavera over 2 years.
Unless Phil becomes a one week stage racer, I don't see much of a duel except in Liège-Bastogne-Liège. Valverde isn't good at the Amstel Gold Race and despite winning on Fleche Wallone he'll never be a favorite for that kinda race with the likes of Contador, Evans, Gilbert and Rodriguez.
Valverde rarely races in Italy, even before his ban. He didn't enter the Giro di Lombardia in 2006, 2007 and 2008 despite still being allowed to race in Italy. I also don't see him compete in Milan-San Remo, the last time he entered that was when Pippo won. And he has never ridden races like Gent-Wevelgem, E3 Prijs Vlaanderen and the Ronde van Vlaanderen. So no duel between the two there either.
The only other race where they're likely to compete is the Clasica San Sebastian. With the Vuelta taking place during the Canadian races you won't see him there either.
Valverde has a totally different program than Philippe. Instead of doing Tirreno-Adriatico he prefers Paris-Nice. Instead of racing the Flemish classics(cobbled ones and the Brabantse Pijl) he's racing in Pais Vasco. Instead of doing the Tour of Belgium he's preparing for the Dauphiné Liberé. In the Tour they'll probably meet although they could both skip that, who knows. I think Phil will now prefer to do the Canadian races over the Vuelta, so they won't face each other there either. Valverde has never shown much interest in races like Piemonte, Emilia and Lombardia, so I wouldn't hold my breath for a duel there either.
There's still the World championships of course.
Ps: As for LBL 2010. It wasn't Valverde who brought Phil back after he got away on the Saint Nicholas. Cadel Evans did all the work with Valverde sitting on his wheel. He was cooked. He's just lucky to be very fast on a flat finish.