Signing Sheed means two things: 1) the MLE is used up, and 2) it demonstrates the Celtics are right up there as far as contending for the Eastern conference crown. So while Danny has fewer resources to work with in bringing in additional free agents, our desirability to those looking for a shot at a ring has increased.
Hopefully, Grant Hill will sign for the LLE. However, we'll still need a competent backup PG, and if Baby signs with SA, we'll definitely need to find another big man for the frontcourt rotation. I love Scal, but he's a hard foul away from retirement.
Danny's job has only just begun. Sheed's the big piece, but we need lots of follow-up moves to round out that roster.