If Memphis can get a pick out of NY, then this is a good deal. I agree with a previous poster that the idea is to flip Z-Bo at a later point for someone else. Memphis benefits by getting rid of Marko Jaric who will never get off the bench. True, they give up on Darko, but.... they wouldn't be the first.
BTW, Antoine Walker is an asset at this point -- since his contract has a team option for next year, it is basically a $9M expiring contract -- that could come in really useful in February.