Great post jdpapa, TP.
I admit I have been caught in the "trade our expirings for this guy and his terrible contract because we desperately need some punch off the bench" while I was being against these ideas at first.
The ideal scenario would be to get a player like Raja Bell who can contribute a lot to our team this season - assuming he comes back from injury in time and healthy - and whose contract expires this summer.
However it's highly unlikely that we could get that kind of ideal player, who is a perfect fit for us both in terms of basketball and long-term financial plans.
I still feel that we need a last piece to our current roster, assuming we have all our players healthy. We definitely need a two or three who can defend on opposing stars and hit shots.
That's why a player like Hinrich, I think, would fit with us, even with his bad contract, because he fulfills a need at two spots for us : point guard and guard, while Marquis can handle the wing.
Roy, or someone whith knowledege of the salary cap, please correct me if I'm wrong but I think the following scenario works financially :
Let's say we trade our expirings of TA, Scal, Walker and JR for Hinrich. We add 9 million dollars to our payroll for the next 3 years (actually, Hinrich's contract value decrases every year but whatever). Then we re-sign Ray for a 8 million $ deal for two years.
We still have the MLE, that we can use either on Marquis only, or split on Marquis and Eddie in the best case scenario. Re-sign Shelden for the minimum too.
Then, by adding "only" 9 million in the payroll, you have a roster of
Rondo/House
Ray/Hinrich
Pierce/Marquis
KG/BBD/Shelden
Perk/Sheed
That's a really good core for the future, and Hinrich's contract is not that bad since he fills two needs. Thus, some "bad contracts" for role players can be really attractive and useful for us, even for long term considerations, in my opinion.
But I agree with your point that Danny should be very cautious if he acquires a good bench player who helps us now and in the future, financially speaking - but it's really hard to find such a player, that's why I think a guy like Hinrich is a good compromise.