If you could get a good youngish big for Sheed, like say Varejao, I'd do that and make Perkins or Davis available - that might get you a solid wing.
Washington interested in unloading Hinrich's contract now that they already got the draft pick? Sheed, $1.5 mil to buy him out, and the nonguaranteed contracts of Oliver Lafayette and Semih Erden for Kirk Hinrich? We add $1.5 million to current salary and $8 million more in expiring money next year, get a 29 year old who can shoot and defend on the wings and play backup point, Washington saves $6-8 million on the cap depending on the buyout amount and whether they hold on to Lafayette or Erden and $17 million overall.