We are surprisingly in a position of great flexibility right now. He can go the route of having cap space in two years, or, if he chose to (and found some team wanting to create cap space and part with a high priced player), he could put together salaries and draft picks to potentially get a real impact player who could go forward with Rondo in a couple of years.
Replacing Perk and Sheed with the O'Neals is probably a slight downgrade, but not a huge one, and it affords us the opportunity (by including Perk in a trade) to even get a max guy. I don't know who that might be, but our greatest flexibility is before the season starts, when we still have the contracts of Gaffney, Lafayette, and Erden on the books (small though those contracts are).
So Danny really has as ton of flexibility right now. A little bit like in 2007, in that had the ping pong balls gone in another direction, we could have gone forward with a young crew focused around a Durant. Instead, the ping pong balls went the other way, and he still had the flexibility to instantly build a contender.
I like that he can either use the contracts for a true impact player this year, or just wait and have cap room in two years. Still, given the age of our players, and that we are going for it all now, I'd rather he make an impactful trade, even if it means needing to throw Perk's contract into the mix.