There are two types of people (well, there are plenty of other sub sects, but as far as this subset goes…): the people who con AND the people who get conned.
There is hope of Locke being redeemed. This will not involve Dead Locke. Island Locke was Mr. Get Conned. Locke has ALWAYS had a penchant for getting conned. In Season 1, he gets conned by his father at the cost of his kidney and the love he always wanted. In Season 2, his father may have been conning him what with his fake death, but it comes at the final cost of losing relationship love. Also, the first time he loses faith in button pushing, it is not a con. D’oh. In Season 3, he gets really ripped TWICE. The big one seems to be trusting his dad (again) for one moment, and getting knocked out a window, paralyzing him. The other one is the FBI agent conning him, specifically mentioning “he was amenable to coercion.” Season 4 seems like things are really special for Locke, and his connection the Island really is important. After Season 5, that now just looks like the clearest piece of MiB’s Long Con on Locke. Not to mention, before MiB (as Walt) tells him to go die for him in Season 5, Ben shoots him.
Additionally, he rejects what is real. His relationship with Helen, the button pushing…because he is too obsessed with wanting more. I think his redemption has come with accepting the gifts he has been given rather than what has been taken. In the ALT, those steps already seem to have come a calling…he accepts his paralysis with Helen—not out of fear, but because she will still love him. He accepts being a substitute teacher instead of a construction worker. His acceptance will be his redemption.
Then again, he is the most tragic character in LOST. He could totally blow it.