Anthony Elding tapped in to put the home side ahead in but Darren Byfield equalised seconds later when he struck from 30 yards.
Clayton MacDonald brought down Jones in the box and the Rochdale captain scored the resulting penalty to win it.
Rochdale manager Keith Hill told BBC Radio Manchester:"We're everybody's favourites to get relegated so we're living the dream at the moment I suppose.
"We're competitive on a football pitch regardless of who it's against because we're well prepared and the players have got a belief in themselves.
"I do feel that if I was a neutral we would have definitely have deserved to win, we created a lot of chances and we could have been a little more comfortable winners."
Live text and stats
Saturday, 11 September 2010
Npower League One
Home Team Score Away Team Time Rochdale 3-2 Walsall FT (HT 2-2) Thompson 27 Elding 44 Jones (pen) 65 Macken 4 Byfield 45+1 Rochdale 01 Lillis 03 Widdowson 04 Holness 18 Thompson 26 Dawson 06 Barry-Murphy 07 Kennedy 08 Jones 16 Tutte yellow card 09 Elding (Thompson 65) 19 O'Grady Substitutes 21 Edwards, 12 Goodall, 28 Flynn, 10 Redshaw, 11 Done, 15 Thompson, 14 Akpa Akpro Walsall 01 Brain 04 McDonald 23 McGivern 03 Lescott 06 Smith 08 Richards 12 Marshall (Reid 70) 18 Gray (Paterson 79) 26 Davis yellow card 09 Byfield 10 Macken Substitutes 21 Bevan, 02 Westlake, 05 Lancashire, 20 Geddes, 15 Paterson, 19 Grigg, 22 Reid Ref: WebsterAtt: 3,174 ROCHDALE WALSALL Possession Rochdale 52% Walsall 48% Attempts on target Rochdale 4 Walsall 3 Attempts off target Rochdale 3 Walsall 6 Corners Rochdale 4 Walsall 6 Fouls Rochdale 4 Walsall 12 Final Result Full Time 90:00+4:10 The referee blows for the end of the match. 90:00+3:23 Effort from the edge of the area by Chris O'Grady goes wide of the left-hand upright. 90:00+2:21 Jamie Paterson takes a shot. Craig Dawson gets a block in. 90:00+0:41 Foul by Darren Byfield on Craig Dawson, free kick awarded. Craig Dawson restarts play with the free kick. 89:37 Booking Andrew Tutte is shown a yellow card for dissent. 88:23 Corner from the left by-line taken by Brian Barry-Murphy, Emmanuele Smith makes a clearance. 87:28 The ball is swung over by Emmanuele Smith, Headed effort from inside the area by Matthew Richards misses to the left of the target. 85:47 Ryan McGivern challenges Andrew Tutte unfairly and gives away a free kick. Andrew Tutte takes the free kick. 84:03 Marcus Holness takes the free kick. 84:03 Booking David Davis is shown a yellow card for unsporting behaviour. 83:50 Free kick awarded for a foul by David Davis on Gary Jones. 82:39 Foul by Ryan McGivern on Joe Thompson, free kick awarded. Free kick taken by Jason Kennedy. 81:23 David Davis has shot on goal from just outside the penalty box which goes wide of the right-hand upright. 79:29 Outswinging corner taken left-footed by Brian Barry-Murphy from the right by-line, Unfair challenge on Emmanuele Smith by Josh Thompson results in a free kick. Aaron Lescott takes the direct free kick. 79:08 The referee gives a free kick against Reuben Reid for handball. Brian Barry-Murphy restarts play with the free kick. 78:05 Substitution Jamie Paterson joins the action as a substitute, replacing Julian Gray. 75:51 Julian Gray is flagged offside by the assistant referee. Josh Lillis takes the indirect free kick. 74:57 Joe Thompson gives away a free kick for an unfair challenge on Emmanuele Smith. Aaron Lescott restarts play with the free kick. 74:21 Joe Thompson is caught offside. Direct free kick taken by Jon Brain. 73:52 The ball is crossed by Brian Barry-Murphy, save by Jon Brain. 73:29 Aaron Lescott concedes a free kick for a foul on Chris O'Grady. Brian Barry-Murphy restarts play with the free kick. 69:53 Substitution Reuben Reid replaces Paul Marshall. 68:32 Outswinging corner taken left-footed by Brian Barry-Murphy from the left by-line, Craig Dawson takes a shot. 68:14 Joe Widdowson crosses the ball. 64:31 Substitution Joe Thompson on for Anthony Elding. 64:09 GOAL - Gary Jones:Rochdale 3 - 2 Walsall Gary Jones scores a power penalty. Rochdale 3-2 Walsall. 62:40 Foul by Clayton McDonald on Gary Jones, Penalty awarded. 59:55 Anthony Elding is flagged offside by the assistant referee. Indirect free kick taken by Aaron Lescott. 59:09 Chris O'Grady produces a left-footed shot from long distance which goes wide right of the goal. 58:32 Unfair challenge on Chris O'Grady by Emmanuele Smith results in a free kick. Brian Barry-Murphy takes the free kick. 56:14 The ball is sent over by Gary Jones, save made by Jon Brain. 55:53 The ball is sent over by Chris O'Grady, Aaron Lescott makes a clearance. 51:48 Joe Widdowson challenges Darren Byfield unfairly and gives away a free kick. Matthew Richards restarts play with the free kick, Emmanuele Smith produces a right-footed shot from deep inside the penalty box which goes wide of the right-hand upright. 47:37 Inswinging corner taken right-footed by Julian Gray, Josh Lillis makes a save. 47:27 Paul Marshall produces a cross, save by Josh Lillis. 46:59 Corner from the right by-line taken by Paul Marshall, Anthony Elding manages to make a clearance. 45:01 The referee gets the second half started. Half Time 45:00+2:37 The referee calls an end to the first half. 45:00+1:42 Inswinging corner taken right-footed by Paul Marshall from the left by-line. 45:00+0:02 GOAL - Darren Byfield:Rochdale 2 - 2 Walsall Darren Byfield scores a goal from long range to the top left corner of the goal. Rochdale 2-2 Walsall. 43:29 GOAL - Anthony Elding:Rochdale 2 - 1 Walsall Anthony Elding grabs a goal from close range low into the middle of the goal. Rochdale 2-1 Walsall. 42:31 Marcus Holness takes the free kick. Correction - 40:24 The ball is crossed by Paul Marshall, Close range header by Ryan McGivern misses to the right of the target. 40:24 Paul Marshall delivers the ball in from the corner, Ryan McGivern produces a headed effort from deep inside the six-yard box which goes wide of the right-hand upright. 39:31 Craig Dawson takes a shot. Matthew Richards gets a block in. 38:14 Unfair challenge on Craig Dawson by Matthew Richards results in a free kick. Direct free kick taken by Brian Barry-Murphy. 36:51 Free kick awarded for an unfair challenge on Andrew Tutte by Ryan McGivern. Direct free kick taken by Brian Barry-Murphy, Craig Dawson produces a right-footed shot from deep inside the penalty area which goes wide of the left-hand post. 34:20 The ball is crossed by Darren Byfield, Josh Thompson makes a clearance. 28:56 Josh Thompson concedes a free kick for a foul on Aaron Lescott. Jon Brain takes the free kick. 26:49 GOAL - Josh Thompson:Rochdale 1 - 1 Walsall A goal is scored by Josh Thompson from inside the six-yard box to the bottom left corner of the goal. Rochdale 1-1 Walsall. 26:13 Corner from the left by-line taken by Brian Barry-Murphy, 24:42 Inswinging corner taken by Paul Marshall. 20:31 Corner taken left-footed by Paul Marshall from the left by-line, Julian Gray has an effort at goal from just outside the area which goes wide of the left-hand post. 19:41 Unfair challenge on Gary Jones by Emmanuele Smith results in a free kick. Brian Barry-Murphy takes the free kick. 11:37 David Davis challenges Brian Barry-Murphy unfairly and gives away a free kick. Free kick taken by Brian Barry-Murphy. 7:58 Matthew Richards concedes a free kick for a foul on Chris O'Grady. Free kick taken by Craig Dawson. 6:08 Matthew Richards produces a left-footed shot from the edge of the area and misses to the left of the goal. 5:57 Andrew Tutte sends in a cross, Matthew Richards makes a clearance. 3:37 The assist for the goal came from Ryan McGivern. 3:37 GOAL - Jonathan Macken:Rochdale 0 - 1 Walsall Jonathan Macken grabs a goal from inside the area to the bottom right corner of the goal. Rochdale 0-1 Walsall. 0:00 The referee gets the game underway. Live text and data provided by The Press Association.