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I'm not a Cisco expert, but I think basic WIPS comes via the 4400. It will alert you to Rogue AP's, clients, deuath/auth floods, etc. You can even choose to take action via the 4400.

If you want the ability see where a single (rogue) device is on a floorplan, out-of-the-box WCS is great for that. However, WCS is really more about managing multiple WLC's and integrating WLC's with other Cisco wireless tools.

If you want full blown WIPS with the ability to track multiple devices on a floor plan, then you need "Cisco Adaptive WIPS" and the mobility services engine (using WCS as the glue for all these pieces).

http://www.cisco.com/en/US/prod/collateral/wireless/ps5755/ps6301/ps6305/product_data_sheet0900aecd802570d0.html

No cash value, not FDIC insured, your mileage may vary, caveat emptor, not everyone will qualify for the lowest rate, results not typical, many will enter, few will win
(In other words - I could be wrong. Very wrong)