I'm not sure what the hurry is to move Wallace. We're not contending, we have plenty of rebuild fodder in picks and small-ish contracts and we have an all-star PG on the mend.
As long as we're not paying repeater tax because of him I don't see an issue keeping him until he is an expiring or until we can get something valuable for him. I dislike the idea of dumping a contract while we're rebuilding and I dislike it even more if we have to give up assets to do it.
For the record I think the C's are going to use this season to rebuild. I don't see a playoff berth, I don't see a huge trade and I don't see Rondo back before Christmas. This season will be about letting the new guys play, getting Stevens comfortable coaching in the NBA and trying to accumulate assets.
But next season we're going to have some cap space, probably around 1 max deal depending on our moves this season. We have 2 first-round picks in the next 3 drafts so we'll hopefully have some talent on the cheap for the coming years. This makes it more likely make a run at a big name FA after extending Rondo ($15-18M/5yrs) in the 2014-15 season. This might be when names like Kevin Love and Lamarcus Aldridge get hot in trade rumors.
So I'm not for forcing a move of our bad contracts. I think this is the time to wait and collect assets not move our assets to shed salary.