The Bucks would never do this deal. My brother-in-law is a Bucks fan and in fact worked for Senator Kohl once upon a time. According to him, LRMAM is an important part of their future, basically one of two guys (Bogut) they've had recently who they can build a franchise with. Now add Jennings to that, I guess.
Anyway, if the Bucks want to draw fans and their money, they have to have a winning team, and they won't get that by trading their young, cheap guys for the likes of Giddens and Scalabrine. I also don't believe that Kohl would sell the team, and certainly not move it (he originally bought the team in order to keep it in Milwaukee). Anyway, I don't think that dumping Gadzuric is so important to him as to give up LRMAM.
Also, I don't think it dramatically improves the Celtics, though I also really like LRMAM. I'm pretty happy with our team as presently constructed. A few years hence I may wish that we had done this deal.