I dunno, I think you only sign Hedo if you think he puts you over the top. I don't think Portland with Hedo is good enough to beat the Spurs or Lakers. If you're Portland, you are young and talented. I say you wait for an off-season where you can pursue one of the superstars.
Next year Portland projects to have only $44 mill committed to a pretty dynamic core (Miller, Przybilla, Oden, Aldridge, Webster, Roy, Bayless, Fernandez, and Batum - the last three are all team options and can amount to them being an additional 5 mill under the cap.)
If you are a super star I think they become a very interesting option. They could offer a max contract to Bosh, Wade, even Lebron though its unlikely he would go there. But the pool will be much deeper and have better players to offer than Hedo. That's all I'm saying...