Wallace is best-known for being a mobile quarterback, almost always a backup during his time with the Seattle Seahawks. He was briefly with the New Orleans Saints this off-season before being recently released.
Lockette is a speedy, tall receiver out of Fort Valley State University, originally signed by Seattle in 2011, spent most of the year on their practice squad, then was released and picked up by the 49ers during the 2012 off-season. He spent 2012 on the 49ers practice squad.
Lockette had been working out a lot with 49ers QB Colin Kaepernick and many thought it may translate into chemistry on the field, and potentially a roster spot in the absence of Michael Crabtree. Thus-far Lockette hasn't done much to stand out other than a tackle on the one yard line on the punt coverage team vs. Denver in the 49ers' first preseason game.